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Chapter 1
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8. On average, 5% of credit sales has been uncollectible in the past. At the end of the year, the balance of accounts receivable is $100,000 and the allowance for doubtful accounts has a credit balance of $500 net credit sales during the year were $150,000. Using the percentage of credit sales method, the estimated bad debt expense would be: A. ... Fetch Full Source
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Dealership Chart Of Accounts Manual - NIADA
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