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Crane Company uses the percentage of receivables method for recording bad debt expense. The accounts...

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Accounting

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Crane Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $590000 and credit sales are $2600000. Management estimates that 3% of accounts receivable will be uncollectible. What adjusting entry will Crane Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $4500 credit balance before adjustment? Bad Debt Expense 13200 Allowance for Doubtful 13200 Accounts Bad Debt Expense 13200 Accounts Receivable 13200 Bad Debt Expense 17700 Allowance for Doubtful 17700 Accounts

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