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At the end of the current year, Accounts Receivable has a balance of $750,880; Allowance...

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Accounting

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At the end of the current year, Accounts Receivable has a balance of $750,880; Allowance for Doubtful Accounts has a credit balance of $7,154; and sales for the year total $3,017,000. Bad debt expense is estimated at 1/2 of 1% of sales. a. Determine the amount of the adjusting entry for bad debt expense. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense

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