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Sheffield Corp. has been in business several years. At the end of the current year, the unadjusted trial balance shows: Accounts Receivable Sales Revenue Allowance

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Sheffield Corp. has been in business several years. At the end of the current year, the unadjusted trial balance shows: Accounts Receivable Sales Revenue Allowance for Doubtful Accounts $340,500 Dr. 2,300,200 Cr. 5,416 Cr. Bad debts are estimated to be 6% of receivables. Prepare the entry to adjust Allowance for Doubtful Accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT

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