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CraneShop had a balance in the Accounts Receivable account of $60,000 at the beginning of the year. Historically the company writes off to bad debt

CraneShop had a balance in the Accounts Receivable account of $60,000 at the beginning of the year. Historically the company writes off to bad debt expense 2% of the Accounts Receivable balance. What is the balance of the Bad Debt Allowance account at the beginning of the year?

A. $1200
B. $2400
C. $0
D. $600

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