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Smart Art is a new establishment.During the first year,there were credit sales of $40,000 and collections of credit sales of $35,000.One account for $650 was written off.The company decided to use the percentage of sales method to account for bad debts expense and decided to use a factor of 3% for their year-end adjustment of bad debts expense.At the end of the year,the balance of bad debts expense would be:
Wisdom
The quality of having experience, knowledge, and good judgment.
Age
The length of time that a person or object has existed, often used to denote the period since birth.
Franz Gall
An early 19th-century neuroanatomist and physiologist, known for developing phrenology, a theory linking brain areas to different personality traits.
Personality Traits
Enduring characteristics or qualities that define individuals and influence their behaviors and attitudes.
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