Business, 18.09.2019 21:10 tremainewoodley3030

Nichols company uses the percentage of receivables method for recording bad debts expense. the accounts receivable balance is $200,000 and credit sales are $1,000,000. management estimates that 4% of accounts receivable will be uncollectible. what adjusting entry will nichols company make if the allowance for doubtful accounts has a credit balance of $2,000 before adjustment?

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