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Tanning Company analyzes its recelvables to estimate bad debt expense. The accounts recelvable balance is $254,000 and credit sales are $1,000,000. An aging of accounts
Tanning Company analyzes its recelvables to estimate bad debt expense. The accounts recelvable balance is $254,000 and credit sales are $1,000,000. An aging of accounts recelvable shows that approximately 8% of the outstanding recelvables will be uncollectible. What adjusting entry will Tanning Company make if Allowance for Doubtful Accounts has a credit balance of $1,000 before adjustment
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