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A company estimates that $20,000 of its $500,000 of accounts receivable wi be uncollectible. Its Allowance for Doubtful Accounts presently has a debit balance of

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A company estimates that $20,000 of its $500,000 of accounts receivable wi be uncollectible. Its Allowance for Doubtful Accounts presently has a debit balance of $3,000. The adjusting entry will include a to Allowance for Doubtful Accounts? O Debit of $3,000 O Credit of $3,000 Debit of $17,000 Credit of $17,000 Credit of $23,000 Buehler Company on June 15 sells merchandise on account to Chelse Co. for $1,000, terms 2/10,n/30. On June 20, Chelse Co. returns merchandise worth $300 to Buehler Company, On June 24, payment is received from ChelseCo. for the balance due. What is the amount of cash received? $700 $680 $686 None of the answer choices are correct

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