Business, 31.03.2020 05:03 july00

Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of credit sales will be uncollectible. On January 1, the Allowance for Doubtful Accounts had a credit balance of $2,400. During the year, Abbott wrote off accounts receivable totaling $1,800 and made credit sales of $100,000. After the adjusting entry, the December 31 balance in Bad Debt Expense will be:
A. $3,000
B. $1,200
C. $7,200
D.$3,600

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Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates...

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