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Lomax Company accounts receivable of $400,000 on December 31. The Allowance for Doubtful Accounts account had a balance of $10,000 before any adjustment. The company

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Lomax Company accounts receivable of $400,000 on December 31. The Allowance for Doubtful Accounts account had a balance of $10,000 before any adjustment. The company analyzes the $400,000 of accounts and estimates that $60,000 are uncollectible on December 31. What is the bad debt expense that will be reported don the annual income statement

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