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At the end of the current year, Accounts Receivable has a balance of $888,650; Allowance for Doubtful Accounts has a credit balance of $7,215; and
At the end of the current year, Accounts Receivable has a balance of $888,650; Allowance for Doubtful Accounts has a credit balance of $7,215; and credit sales for the year total $2,069,000. Bad debt expense is estimated at 1/2 of 1% of credit sales. a. Determine the amount of the adjusting entry for bad debt expense. fill in the blank 1 of 2$ b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt
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