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Bailey Inc.'s books revealed the following data for 2020 after all adjustments were made:
Cash sales $825,000
Sales returns (on credit sales). 35,000
Allowance for doubtful accounts (credit balance) 3,800
Credit sales 575,000
Accounts receivable 168,000
Bailey estimates bad debt expense based on 2% of net credit sales.
Problem 1: The bad debt expense for 2020 was
A) $10,800.
B) $11,500.
C) $14,600.
D) $3,360.
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