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Question(s) / Instruction(s):

Allowance for Doubtful Accounts has a debit balance of $518 at the end of the year (before adjustment), and Bad Debt Expense is estimated at 3% of net sales. If net sales are $758,120, the amount of the adjusting entry to record the estimate of the uncollectible accounts is

a)            $22,744

b)            $23,262

c)            $22,226

d)            $518

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