Question: ( ### 1 ) No chat gpt answers & don't copy from chegg or else I'll give 5 downvotes Bad Debt Estimation: A company has

(###1)No chat gpt answers & don't copy from chegg or else I'll give 5 downvotes
Bad Debt Estimation:
A company has $500,000 in Accounts Receivable. Historically, 3% of receivables become uncollectible.
However, due to economic downturn, they estimate that 5% may become uncollectible this period.
Calculate the necessary bad debt expense adjustment.

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