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Since the inception of your company, you have been able to collect 88% of your...

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Accounting

Since the inception of your company, you have been able to collect 88% of your ending accounts receivable balance from customers that bought your product on account. Based on this information, adjust your allowance for bad debt account. NOTE: Use your 2019 ending accounts receivable balance to make this calculation.

If you could provide an equation and explanation of how I would solve this like what I would use to calculate the number for the journal entry I have prior year financial statements.

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