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In its first year of business, Bubba's Bait Shop made $5,000 of credit sales. The company records bad debt expense equal to $300. At the
In its first year of business, Bubba's Bait Shop made $5,000 of credit sales. The company records bad debt expense equal to $300. At the end of its first year of business, Bubba's balance sheet reports $400 of accounts receivable and $50 of allowance for doubtful accounts. How much of the accounts receivable were written off?
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