Allowance for Doubtful Accounts has a debit balance of $289 at the end of the...
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Accounting
Allowance for Doubtful Accounts has a debit balance of $289 at the end of the year (before adjustment), and Bad Debt Expense is estimated at 3% of sales. If net credit sales are $884,500, the amount of the adjusting entry to record the estimate of the uncollectible accounts is
a.$26,246
b.$26,535
c.$26,824
d.$289
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