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If wilton estimates that 3 of its net sales will prove to

Question - Wilton, Inc. had net sales in 2014 of $1,429,000. At December 31, 2014, before adjusting entries, the balances in selected accounts were: Accounts Receivable $340,700 debit, and Allowance for Doubtful Accounts $4,220 credit. If Wilton estimates that 3% of its net sales will prove to be uncollectible.

Prepare the December 31, 2014, journal entry to record bad debt expense.

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Accounting Basics: If wilton estimates that 3 of its net sales will prove to

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