A companys Accounts Receivable balance at its December 31 year-end is $125,650, and its Allowance for Doubtful
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A company’s Accounts Receivable balance at its December 31 year-end is $125,650, and its Allowance for Doubtful Accounts has a credit balance of $328 before year-end adjustment. Its net sales are $572,300. It estimates that 4% of outstanding accounts receivable are uncollectible. What amount of bad debts expense is recorded at December 31?
a. $5,354
b. $328
c. $5,026
d. $4,698
e. $34,338
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