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ABC Company uses the allowance method for estimating bad debts. Record the following journal entries: 1 2 / 3 1 ABC Company estimates that $

ABC Company uses the allowance method for estimating bad debts. Record the following journal entries:
12/31 ABC Company estimates that $5,000 of accounts receivable will be uncollectible.
3/5 ABC Company wrote off a $1,200 account of a customer, B. Brown.
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