At the end of 2003,the following balances appeared in the ledger accounts of a company prior to the adjusting and closing entries: 
The estimated bad debt rate used by the company,based on outstanding customer receivables,is 3 percent.The amount that should be used in the correcting entry to record bad debt expense at the end of 2003 is $___________________.
Definitions:
Adjustment Problems
Difficulties in coping with or adapting to new situations, environments, or life changes, which can affect emotional well-being and daily functioning.
Sexual Stimulation
Physical or psychological activity that leads to sexual arousal.
Underestimate
To judge something below its actual value or importance.
Importance
The quality or state of being valuable, significant, or worthy of attention.
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