ABC Company uses the allowance method and estimates bad debts using the percent - of...
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Accounting
ABC Company uses the allowance method and estimates bad debts using the percent of sales method. The company's management estimates that of net credit sales will be uncollectible for the year Net credit sales for the year amounted to $ What is the journal entry to record the estimated Bad Debts Expense?
A Debit Bad Debts Expense for $; Credit Allowance for Bad Debts for $
B Debit Allowance for Bad Debts for $; Credit Bad Debts Expense for $
C Debit Bad Debts Expense for $; Credit Allowance for Bad Debts for $
D Debit Allowance for Bad Debts for $; Credit Bad Debts Expense for $
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