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Based on prior experience, ABC Co. has bad expense at 2% of net credit sales; credit sales in September 2021 were $500,000. ABC Co. currently

Based on prior experience, ABC Co. has bad expense at 2% of net credit sales; credit sales in September 2021 were $500,000. ABC Co. currently has a A/R balance of $100,000(DR) and a AFDA balance of $20,000(CR).

1) What is the adjusting entry needed at September 30, 2021?

2) What is the amount of Net Accounts Receivable after the adjustment?

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