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Question - Waterway Industries's account balances at December 31, 2020 for Accounts Receivable and the Allowance for Doubtful Accounts are $900000 debit and $1580 credit. Sales during 2020 were $2706000. It is estimated that 1% of sales will be uncollectible. What the adjusting entry would include a credit to the allowance account?
$28640.
$27060.
$25480.
$9000.
January 1, 20X8, for $4,500. RTI's year end is December 31. What is the total revenue reported by Running Treadmills in the month of January for this sale?
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