Business, 08.10.2019 18:10 artiomtyler007

The allowance for bad debts account has a credit balance of $2,000 before the adjusting entry for bad debts expense. the company's management estimates that 2% of net credit sales will be uncollectible for the year 2019. net credit sales for the year amounted to $270,000. what will be the balance of allowance for bad debts on the december 31, 2019 balance sheet?
(a) $5,400(b) $2,000(c) $7,400(d) $5,360

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