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What the adjusting entry to estimate doubtful accounts

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Question - Assume the following unadjusted account balances at the end of the accounting period for Emmie Company: Accounts Receivable, $300,000; Allowance for Doubtful Accounts, $4,200 (debit balance); and Net sales, $3,600,000.

If Emmie's past experience indicates credit losses of 1% of net sales, what the adjusting entry to estimate doubtful accounts?

Reference no: EM133119284

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