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On average, 5% of total accounts receivable has been uncollectible in the past. At the end of the year, the current balance of accounts receivable
On average, 5% of total accounts receivable has been uncollectible in the past. At the end of the year, the current balance of accounts receivable is $100,000. The allowance for doubtful accounts has an adjusted debit balance of $500 using the aging of accounts receivable method. Credit sales during the year were $150,000. The estimated bad debt expense is?
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