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Allowance for Doubtful Accounts has a credit balance of $13000 at the end of the year, before adjustments. Sales for the year amounted to $1570000,
Allowance for Doubtful Accounts has a credit balance of $13000 at the end of the year, before adjustments.
Sales for the year amounted to $1570000, and sales returns and allowances amounted to $50000. If uncollectible accounts expense is estimated at 3% of net sales, the amount of the appropriate adjusting entry will be (nearest whole dollar):
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