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When using the percentage of sales method, ABC Company expects that 3% of its credit sales totaling $10,000,000 will not be collectible at the end

When using the percentage of sales method, ABC Company expects that 3% of its credit sales totaling $10,000,000 will not be collectible at the end of the year. The current balance in the allowance account is $32,000. Record the appropriate journal entry.

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