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In 20X5 a company had sales revenues of $550,000, of which 70% was on account. At 12/31/X5 the following ending balances before adjustment were available:
In 20X5 a company had sales revenues of $550,000, of which 70% was on account. At 12/31/X5 the following ending balances before adjustment were available: Given the information above, the 12/31/X5 adjusting entry for uncollectible accounts based on the aging percentages provided would include a debit to Bad Debt Expense of
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