Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance...
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Accounting
Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $134,500, allowance for doubtful accounts of $965 (credit) and sales of $1,075,000. If uncollectible accounts are estimated to be 0.5% of sales, what is the amount of the bad debts expense adjusting entry?
$5,500
$5,375
$5,575
$6,340
$4,410
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