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Please show work! thanks! During 20X1, ABC, Inc. had net sales of $2,200,000. Before year-end adjusting entries were made, the balances in Accounts Receivable and
Please show work! thanks!
During 20X1, ABC, Inc. had net sales of $2,200,000. Before year-end adjusting entries were made, the balances in Accounts Receivable and Allowance for Doubtful Accounts were $435,000 debit, and $6,500 credit respectively. ABC, Inc. estimates 5% of its net sales will be uncollectible. Prepare the December 31, 20X1, adjusting entry to record bad debt expense. Year end adjusting entry for uncollectible account expense Select an option Allowance for doubtful account Cash Accounts receivable Bad Debt Expense Write off Select an optionStep by Step Solution
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