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XYZ Company sold merchandise worth $120,000 on credit to customers during the year ended December 31st, 2023. The company estimates that 3% of credit sales

XYZ Company sold merchandise worth $120,000 on credit to customers during the year ended December 31st, 2023. The company estimates that 3% of credit sales will be uncollectible. Calculate the provision for doubtful debts for the year.

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