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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.
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