Ridoy Company determines its allowance for doubtful accounts by applying an expected loss percentage of 1 percent to the total of credit sales. Prior to the adjusting entry, the allowance account has a balance. 

How much will be charged to expense in the adjusting entry based on the given information for year ending Dec 31st? Record the entries on Dec 31, 2021 for recording the expenses

			Debit	Credit
Total Sales				690,500
Total Credit Sales				625,000
Allowance for Doubtful Accounts			1,150

Answer rating: 100% (QA)

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