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On December 31, 2019, Cleaning Solutions had a balance in Accounts Receivable of $25,000. Net credit sales for the year were $400,000. The Allowance for
On December 31, 2019, Cleaning Solutions had a balance in Accounts Receivable of $25,000. Net credit sales for the year were $400,000. The Allowance for Doubtful Accounts has a credit balance of $500. Record the journal entry for the bad debt expense under the percentage of sales method if 0.5% of net credit sales are deemed uncollectible.
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