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> Moving to another question will save this response. Question 5 of 10 > >> Question 5 10 points Save Answer Tanning Company analyzes its
> Moving to another question will save this response. Question 5 of 10 > >> Question 5 10 points Save Answer Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $390,000 and credit sales are $1,300,000. An aging of accounts receivable shows that approximately 10% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if Allowance for Doubtful Accounts has a credit balance of $2,500 before adjustment? Bad Debt Expense = 36,500 Allowance for Doubtful Accounts - 36,500 Bad Debt Expense = 19,500 Allowance for Doubtful Accounts = 19,500 Bad Debt Expense - 65,000 Allowance for Doubtful Accounts = 65,000 Bad Debt Expense 22.000 Allowance for Doubtful Accounts = 22,000
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