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The Allowance for Doubtful Accounts account has a credit balance of $2,000 before the adjusting...

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Accounting

The Allowance for Doubtful Accounts account has a credit balance of $2,000 before the adjusting entry for bad debts expense. The company management estimates that 2% of net credit sales will be uncollectible for the year 2024. Net credit sales for the year amounted to $270,000 What will be the balance of Allowance for Doubtful Accounts on the December 31,2024 balance sheet?
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