Business, 23.06.2020 19:01, kimmosley80
Chen Company's account balances at December 31, 2017 for Accounts Receivable and the Allowance for Doubtful Accounts are $800,000 debit and $1,500 credit. Sales during 2017 were $2,750,000. It is estimated that 1% of sales will be uncollectible. The adjusting entry would include a credit to the allowance account for:.
A) $29,000.
B) $27,500.
C) $26,000.
D) $8,000.
Answers: 3
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