Sheffield's Corp.'s account balances at December 31, 2020 for Accounts Receivable and be related Allowance...
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Accounting
Sheffield's Corp.'s account balances at December 31, 2020 for Accounts Receivable and be related Allowance for Doubtful Accounts are $917,000 debit and $2,000 credit, respectively. From an aging of accounts receivable, it is estimated that $37,900 of the December 31 receivables will be uncollectible. The necessary adjusting entry would include a credit to the allowance account for
A. $39,900
B. $35,900
C. $2,000
D. $37,900
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