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Tanning Company uses the percentage of sales method for recording bad debt expense. The accounts receivable balance is $180,000 and credit sales are $1,076,600. It is estimated that 4% of credit sales will be uncollectible. What adjusting entry will Manning Company make if the Allowance for Doubtful Accounts has a credit balance of $1,485 before adjustment?

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Accounting Basics, Accounting

Category:- Accounting Basics
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