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Prepare adjusting journal entry for uncollectible accounts

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Question: At the end of the current year, Accounts Receivable has a balance of $800,000; Allowance for Doubtful Accounts has a credit balance of $3,500; and net sales for the year total $3,000,000. Bad debt expense is estimated at 1/2 of 1% of net sales.

Required: Prepare the adjusting journal entry for uncollectible accounts.

Reference no: EM132754990

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