Mathematics, 16.04.2021 17:40 AgentPangolin

Crescent Company reported total sales for the current year to be $5,000,000, including cash sales of $1,000,000. Management estimates bad debts to be 5% of credit sales. The Allowance for Doubtful Accounts prior to adjustment has a debit balance of $20,000. The ending balance of the Allowance for Doubtful Accounts after adjustment will be: Select one: A. $170,000 B. $220,000 C. $180,000 D. $120,000

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Crescent Company reported total sales for the current year to be $5,000,000, including cash sales of...