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debit to Cash for $22 credit to Cash Short and Over for $10 credit to Petty Cash for $180 Tanning Company analyzes its receivables to
debit to Cash for $22 credit to Cash Short and Over for $10 credit to Petty Cash for $180 Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $314,000 and credit sales are $1,000,000. An aging of accounts receivable shows that approximately 3% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $3,000 before adjustment? Select the correct answer. Bad Debt Expense$5,920 Accounts Receivable$5,920 Bad Debt Expense$6,420 Allowance for Doubtful Accounts$6,420 Bad Debt Expense $7,420 Allowance for Doubtful Accounts $7,420 Bad Debt Expense$5,420 Accounts Receivable$5,420
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