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Turner Co. estimates its uncollectible accounts expense to be 2% of credit sales. Turners credit sales for the year were $1,000,000. During the year, Turner
Turner Co. estimates its uncollectible accounts expense to be 2% of credit sales. Turners credit sales for the year were $1,000,000. During the year, Turner wrote off $18,000 of uncollectible accounts. Turners allowance for uncollectible accounts had a $15,000 balance on January 1. In its December 31 income statement, what amount should Turner report as bad debt expense?
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