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Question(s) / Instruction(s):

ABC co had sales of 1,000,000 during 2008, of which 80 percent were on credit. On December 31 08, accounts receivable totaled 80,000 and allowance for bad debts had credit balance of 1,200. Given the preceeding information, if uncollectible receivables are estimated to be ‚½ of 1 percent of credit sales, the adjusting entry to account for uncollectible receivables as of December 31, 08 would include a) A debit to bad debt expense of 4,000 b) Debit to bed expense 5,000 c) Credit to bad debt expense 2,800 d) Credit to allowance for bad debts for 5,000

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