The following information is available for the Bench Company:
During 2014,Bench estimated that its bad debt expense should be 1% of all credit sales and made the appropriate monthly adjusting entries.As a result of a review and aging of accounts receivable in early January 2015,it has been determined that an allowance for uncollectible accounts of $3,200 is needed at December 31,2014.
Required:
What is the journal entry that Bench should make after the aging is completed?
Definitions:
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