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Find what will be the balance in the allowance for doubtful

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Problem 1: Coronado Industries has outstanding accounts receivable totaling $1.25 million as of December 31 and sales on credit during the year of $6.23 million. There is also a debit balance of $5400 in the allowance for doubtful accounts. If the company estimates that 3% of its accounts receivable will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?

Reference no: EM132779615

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