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The Allowance for Bad Debts account has a credit balance of $5,000 before the adjusting entry for bad debts expense. The company's management estimates that

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The Allowance for Bad Debts account has a credit balance of $5,000 before the adjusting entry for bad debts expense. The company's management estimates that 5% of net credit sales will be uncollectible for the year 2017. Net credit sales for the year amounted to $280,000. What is the amount of Bad Debts Expense reported on the income statement for 2017? $14,000 $7,000 $9,000$19,000

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