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Cornerstone Exercise 5-29 (Algorithmic) Percentage of Credit Sales Method At December 31, 2019, Garner has a $10,000 credit balance in its allowance for doubtful accounts.

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Cornerstone Exercise 5-29 (Algorithmic) Percentage of Credit Sales Method At December 31, 2019, Garner has a $10,000 credit balance in its allowance for doubtful accounts. Garner estimates that 3% of its 2019 credit sales will eventually default. During 2019, Garner had credit sales of $1,110,000. Required: Estimate the bad debt expense under the percentage of credit sales method. X $

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