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Coronado Industries's account balances at December 31, 2020 for Accounts Receivable and the Allowance for Doubtful Accounts are $ 870000 debit and $ 1450 credit.

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Coronado Industries's account balances at December 31, 2020 for Accounts Receivable and the Allowance for Doubtful Accounts are $ 870000 debit and $ 1450 credit. Sales during 2020 were $ 2827000. It is estimated that 1% of sales will be uncollectible. The adjusting entry would include a credit to the allowance account for $ 29720 S28270 $26820 $8700

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