A company uses the percent of sales method to determine its bad debts...
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Accounting
A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts Receivable$debitNet Sales credit All sales are made on credit. Based on past experience, the company estimates that of net sales are uncollectible. What amount should be debited to Bad Debts Expense when the yearend adjusting entry is prepared?
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