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Question 7 Not yet answered Marked out of 1.00 P Rag question Use the following...

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Accounting

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Question 7 Not yet answered Marked out of 1.00 P Rag question Use the following information to answer the next two questions: Harris Company uses the allowance method of handling its credit losses. It estimates credit losses at 1.5% of credit sales, which were $2,700,000 during the year. On December 31, the Accounts Receivable balance was $475,000, and the Allowance for Doubtful Accounts had a balance of $30,600 before adjustment Indicate the effect (increase / decrease that recording the bad debt expense for the year will have on the company's assets, liabilities, and equity. respectively Assets Liabilities Equity Select one: a. Increase, No Change, Decrease b. Decrease, Decrease, No Change C. Increase, Decrease, Increase d. Decrease, No Change Decrease O e Increase, No Change, Increase Previous Save Answers Next

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