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Ward Company estimates its uncollectible accounts expense to be 2% of credit sales. Wards credit...

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Accounting

Ward Company estimates its uncollectible accounts expense to be 2% of credit sales. Wards credit sales for 2017 were $5,000,000. Wards allowance for uncollectible accounts has a $35,000 credit balance on January 1, 2017. In its December 31, 2017, income statement, what amount should be reported as Bad Debt Expense?

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