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Accounts Receivable is 120,000, Sales are $60,000, balance in the Allowance for Doubtful Accounts is a credit of $900, and the % of uncollectible credit
Accounts Receivable is 120,000, Sales are $60,000, balance in the Allowance for Doubtful Accounts is a credit of $900, and the % of uncollectible credit sales is 5%. If a company is using the Allowance method, and the Balance Sheet method, what would be the adjusting entry needed to account for uncollectible accounts? Credit to Bad Debt Expense and debit to Allowance for Doubtful Accounts for $6,000 Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $2,100 O Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $5.100 O Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $6,000
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