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A company uses the allowance method for bad debt expense. At the end of the year, they estimate that 1 % of their $ 5

A company uses the allowance method for bad debt expense. At the end of the year, they estimate that 1% of their $505,000 in Accounts Receivable is uncollectible. If the Allowance for Doubtful Accounts has a credit balance of $30,000 before adjustment, what is the amount of bad debt expense to be recorded?
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