Ivanhoe Company has a $158000 balance in Accounts Receivable and a $448 debit balance in Allowance for Doubtful Accounts at year end just prior to recording adjusting entries. Credit sales for the period totaled $1036800. How much is the amount of the bad debt adjusting entry if Ivanhoe estimates that 1.5% of its receivables will be uncollectible?

$2818$1922$15552$2370

Answer rating: 100% (QA)

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