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Libby Company uses the percentage of credi sales method for calculating Bad Debt Expense. The...

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Accounting

Libby Company uses the percentage of credi sales method for calculating Bad Debt Expense. The company reported $216,000 in total sales during the year, $178,000 of which were on credit Libby has experienced bad debt losses of 5% of credit sales in prior periods. What is the estimated amount of Bad Debt Expense for the year?
.$10,800
$8,900
$38,000
$1,900
None of the above.
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