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Vanney Inc. estimates its bad debt expense using the percentage of credit sales method. Credit sales in the current year were $159,000. Vanney estimates of

Vanney Inc. estimates its bad debt expense using the percentage of credit sales method. Credit sales in the current year were $159,000. Vanney estimates of those sales 3% of those will be uncollectable. The current allowance for bad debts balance is $1000. What amount should Vanney record for bad debit.

I came up with $3,700 but not 100% sure

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