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Problem1 (2 Points) The following information relates to the Broadway Suites on December 31, 20X8: Sales $305,000, Accounts Receivable $27,500. Required: If bad debts are

Problem1 (2 Points)

The following information relates to the Broadway Suites on December 31, 20X8: Sales $305,000, Accounts Receivable $27,500.

Required: If bad debts are calculated to be 2% of sales, create the journal entry to record the allowance for doubtful accounts.

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