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Your company uses percentage of receivables (aging) method of valuing Accounts Receivable. The present balance in allowance account (AFDA) is a debit of $2,000. Management

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Your company uses percentage of receivables (aging) method of valuing Accounts Receivable. The present balance in allowance account (AFDA) is a debit of $2,000. Management decides that 5% of Accounts Receivable is uncollectible. Accounts Receivable balance is $48,000. Record bad debt. 7 A T iii III Account Debit Credit

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