Question: 8 Points Bad Debt Expense Problem I The trial balance before adjustment of Patel Company reports the following balances: Dr. $274,000 Accounts receivable Allowance for

8 Points Bad Debt Expense Problem I The trial balance before adjustment of Patel Company reports the following balances: Dr. $274,000 Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales returns and allowances $ 4,240 991,000 12,000 Instructions Prepare the entries for estimated bad debts assuming that doubtful accounts are estimated to be 7% of gross accounts receivable. NOTE: This is a manual problem. Complete your work in Excel, Word, or on paper and take a picture. Please e-mail your work. Use the editor to format your

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