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Peeps Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is...

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Accounting

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Peeps Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $390,000 and credit sales are $1,300,000. An aging of accounts receivable shows that approximately 5% of the outstanding receivables will be collectible. What entry will Peeps Company make to Bad Debts Expense if the Allowance for Doubtful Accounts has a credit balance of $2,500 before adjustment? O Bad Debt Expense 17,000 O Bad Debt Expense 19,500 O Bad Debt Expense 65,000 O Bad Debt Expense 22,000

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