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Melrose Company recorded $3,500,000 in credit sales in 2020 and prepared the following aging schedule of their $730,000 in Accounts Receivable as at December 31,

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Melrose Company recorded $3,500,000 in credit sales in 2020 and prepared the following aging schedule of their $730,000 in Accounts Receivable as at December 31, 2020: Time left 0:53 Days outstanding Balance Estimated percentage uncollectible 0-30 days $350,000 19 31-60 days 275,000 296 61-90 days 67,500 596 Over 90 days 37,500 2596 The balance in their Allowance for Doubtful Accounts before year-end adjustments is a $2,000 credit. Required: 1) What is the ending balance of the Allowance for Doubtful Accounts (ie, on December 31, 2020) Do not include Dollar Signs (S), Commas (.), or Brackets (). Round your answer to the nearest dollar. Eg. 50000 37500 2) What if? Assume AFDA balance on January 1, 2020 is ZERO (O). If on December 31, 2020 the Ending AFDA balance is $25,000 what is the Bad Debts Expense that would be recorded? Choose. 3) What is the Adjusting Journal Entry (on December 31, 2020) to record Bad Debts Expense? Select ALL that apply. Da CR Accounts Receivable Db.DR AFDA c. DR Sales Od. DR Accounts Receivable De CR AFDA Time left 0:53: 3) What is the Adjusting Journal Entry (on December 31, 2020) to record Bad Debts Expense? Select ALL that apply. La, CR Accounts Receivable b. DR AFDA Dc DR Sales d.DR Accounts Receivable De CRAFDA Cf. CR Bad Debts Expense g. DR Bad Debts Expense Oh. CR Sales

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