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Monty Limited had net sales in 2023 of $1.8 million. At...

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Accounting

Monty Limited had net sales in 2023 of $1.8 million. At December 31,2023, before adjusting entries, the balances in selected
accounts were as follows: Accounts Receivable $265,200 debit; Allowance for Expected Credit Losses $2,700 debit. Assuming
Monty has examined the aging of the accounts receivable and has determined the Allowance for Expected Credit Losses should
have a balance of $31,000, prepare the December 31,2023 journal entry to record the adjustment to Allowance for Expected
Credit Losses. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)
Account Titles and Explanation
Debit
Credit
image

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