Sheridan Company has a $134000 balance in Accounts Receivable and a $384 debit balance in...
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Accounting
Sheridan Company has a $134000 balance in Accounts Receivable and a $384 debit balance in Allowance for Doubtful Accounts at year end just prior to recording adjusting entries. Credit sales for the period totaled $883200. How much is the amount of the bad debt adjusting entry if Sheridan estimates that 1.5% of its receivables will be uncollectible? $1626$13248$2394$2010
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