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When using the percentage of sales method, ABC Company expects that 5% of its credit sales totaling $5,000,000 will not be collectible at the end

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When using the percentage of sales method, ABC Company expects that 5% of its credit sales totaling $5,000,000 will not be collectible at the end of the year. The current balance in the allowance account is $25,000. Record the appropriate journal entry

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