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Linus Company uses the percent of sales method of estimating uncollectible receivables. Based on past history, of 4% of credit sales are expected to be

Linus Company uses the percent of sales method of estimating uncollectible receivables. Based on past history, of 4% of credit sales are expected to be uncollectible. Sales for the current year are $7,250,000. Allowance for Doubtful Accounts has a $23,300 credit balance before adjustment. Which of the following is correct regarding the entry to record estimated uncollectible receivables?

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