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Business, 31.03.2020 00:27 oliviakgobbell

The Allowance for Doubtful Accounts account has a year-end credit balance, prior to adjustment of $500. The bad debts are estimated at 7% of $60,000, the outstanding accounts receivable. After the appropriate adjusting entry to recognize the bad debt expense, what will be the balance of the Allowance for Doubtful Accounts?

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