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Suppose that Jollibee has receivables of 2,200,000 dollars in 2010 and prior experience indicates an expected 5% average uncollectible accounts rate. Assume the allowance for

Suppose that Jollibee has receivables of 2,200,000 dollars in 2010 and prior experience indicates an expected 5% average uncollectible accounts rate. Assume the allowance for bad debts account already have an existing beginning balance of 1,700 dollars.

Question, what is the adjusting entry?

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