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Accounts receivable Allowance for Doubtful Accounts Net Sales $ 434,000 Debit 1,360 Debit 2,210,000 Credit...

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Accounting

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Accounts receivable Allowance for Doubtful Accounts Net Sales $ 434,000 Debit 1,360 Debit 2,210,000 Credit All sales are made on credit. Based on past experience, the company estimates 3.0% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense? Multiple Choice Debit Bad Debts Expense $14,380; credit Allowance for Doubtful Accounts $14,380. Debit Bad Debts Expense $64,940; credit Allowance for Doubtful Accounts $64,940, Debit Bad Debts Expense $67,660; credit Allowance for Doubtful Accounts $67,660. Debit Bed Debts Expense 566,300; credit Allowance for Doubtful Accounts $66,300. Debit Bad Debts Expense 513,020; credit Allowance for Doubtful Accounts $13.020

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