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Prepare entry to adjust allowance for doubtful accounts

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Reference no: EM13531631

Else Company has been in business several years. At the end of the current year, the ledger shows:

Accounts Receivable

$ 310,000 Dr.

Sales Revenue

2,200,000 Cr.

Allowance for Doubtful Accounts

5,700 Cr.

Bad debts are estimated to be 7% of receivables. Prepare the entry to adjust the Allowance for Doubtful Accounts.

Reference no: EM13531631

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