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Maine Corporations unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $850,000 Allowance for Doubtful Accounts 18,000 Bad debts are estimated to

  1. Maine Corporations unadjusted trial balance includes the following balances (assume normal balances):

    Accounts Receivable $850,000 Allowance for Doubtful Accounts 18,000

    Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record? a. $18,000 b. $24,500

    c. $41,600 d. $42,500

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