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Business, 01.12.2021 01:40 XxMikeLearnsxX9288

Sheridan Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $594000 and credit sales are $2690000. Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Sheridan Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $4900 credit balance before adjustment

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