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Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $785,000; Allowance for Doubtful Accounts has a credit

Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $785,000; Allowance for Doubtful Accounts has a credit balance of $7,000; and sales for the year total $3,530,000. Bad debt expense is estimated at 1/4 of 1% of sales

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