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Problem:

DEF company uses Percentage of sales approach to estimate bad debt. From experience, DEF has determined that approximately 3% of all sales will be uncollectible. February sales were $800,000 dollars.

Required:

Question: What is the jornal entry record the bad debt expense?

Note: Please provide through step by step calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164273

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