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Sheridan Company has a $167000 balance in Accounts Recelvable and a $472 debit balance in Allowance for Doubtful Accounts at year end just prior to

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Sheridan Company has a $167000 balance in Accounts Recelvable and a $472 debit balance in Allowance for Doubtful Accounts at year end just prior to recording adjusting entries. Credit sales for the period totaled $1094400. How much is the amount of the bad debt adjusting entry if Sheridan estimates that 1.5% of its receivables will be uncollectible? $2977$2505$16416$2033

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