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ABC Company is recording the adjusting entry at December 31, 2019, the end of the fiscal year, to record the bad debt expense. The accounts
ABC Company is recording the adjusting entry at December 31, 2019, the end of the fiscal year, to record the bad debt expense. The accounts receivable account has a balance of $800,000, and the contra asset account Allowance for Doubtful Accounts has a debit balance of $600 before adjustment. Analysis of the receivables indicates uncollectible receivables of $18,000. Which of the following is correct?
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