Business, 25.02.2021 18:10, jasminelockhart432

Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of net credit sales will be uncollectible. On January 1, theAllowance for Doubtful Accounts had a credit balance of $2,400. During the year, Abbott wrote off accounts receivable totaling $1,800 and made credit sales of $100,000.There were no sales returns or sales discounts during the year. After the adjusting entry, the December 31, balance in the Bad Debt Expense will be:. a. $1,200
b. $3,000
c. $3,600
d. $7,200

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Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates...