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Multiple choice questions Can I get the answers for my study guide to ensure i'm doing this correctly? Abbott Company uses the allowance method of

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Multiple choice questions

Can I get the answers for my study guide to ensure i'm doing this correctly?

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Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of net credit sales will be uncollectible. On January 1, the Allowance for Doubtful Accounts had a credit balance of $2,400. During the year, Abbott wrote off accounts receivable totaling $1,800 and made credit sales of $100,000. There were no sales returns or sales discounts during the year. After the adjusting entry, the December 31, balance in the Bad Debt Expense will be Ca. $1,200 Ob. $3,000 \"a. $3,600 Cd. $7,200

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