Winstead & Company has Accounts receivable of $120,000 and a Debit balance of Allowance for...
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Accounting
Winstead & Company has Accounts receivable of $120,000 and a Debit balance of Allowance for Doubtful Accounts $1,000 in the Allowance for Doubtful Accounts. and .The firm estimates that two percent of the current accounts and five percent of the past due account will prove to be uncollectible.
The adjusting entry to provide for the bad debts expenses under the aging method should be for what amount?
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