X Company calculates that this year year's estimated bad debts expense will be $7500. When...
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Accounting
X Company calculates that this year year's estimated bad debts expense will be $7500. When X Company makes the adjusting entry, what will be the effect on the following?
Bad/Doubtful Debt Expense
Allowance for Doubtful Debts
Gross Account Receivable
a. No affect / Increase / Decrease
b. No affect / Decrease / No affect
c. Increase / Increase / No affect
d. Increase / No effect / Decrease
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