Question: Balloons Plus computes bad debt based on the allowance method. They determine their current year's balance estimation to be a credit of $84,000. The previous

Balloons Plus computes bad debt based on the allowance method. They

Balloons Plus computes bad debt based on the allowance method. They determine their current year's balance estimation to be a credit of $84,000. The previous period had a credit balance in Allowance for Doubtful Accounts of $26,000. What should be the reported figure in the adjusting entry for the current period? a. $58,000 b. $84,000 C. $110,000 d. $26,000 e. $120,000

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