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What adjustment to record bad debts for the period

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Reference no: EM132717791

Problem 1: An aging of a company's accounts receivable indicates that $3,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $2,000 credit balance, the adjustment to record bad debts for the period will require a

Option 1: credit to Allowance for Doubtful Accounts for $4,000
Option 2: credit to Allowance for Doubtful Accounts for $1,000
Option 3: debit to Bad Debts Expense for $5,200
Option 4: debit to Bad Debts Expense for $1,000

Reference no: EM132717791

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