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Kingbird, Inc. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $290000 and credit sales are $2910000. Management

Kingbird, Inc. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $290000 and credit sales are $2910000. Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Kingbird, Inc. make if the Allowance for Doubtful Accounts has a credit balance of $2900 before adjustment?

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