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On its fiscal year end, Ottawa Inc.'s leger accounts show that its accounts receivable balance is $80,000, the Allowance for Doubtful Accounts has a debit
On its fiscal year end, Ottawa Inc.'s leger accounts show that its accounts receivable balance is $80,000, the Allowance for Doubtful Accounts has a debit balance of $700 before adjustment, and the total net credit sales were $690,000. Using an aging schedule, management estimates that $5,000 of accounts receivables will be uncollectible. The adjusting entry will be: None of the above
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