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QUESTION 1 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance Gross Accounts receivable $100,000 2% of net credit sales $1,800 before

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QUESTION 1 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance Gross Accounts receivable $100,000 2% of net credit sales $1,800 before the estimate was made $40,000 Required: Prepare the adjusting entry to record bad debts expense for 2020 using the percentage of sales method For the toolbar, press ALT+F10 (PO) or ALT+FN+F10 (Mac)

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