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Each December 31, Davis Company ages its accounts receivable to determine the amount of its adjustment for bad debts. At the end of the current year, management estimated that $16,900 of the accounts receivable balances would be uncollectible. The Allowance for Doubtful Accounts account had a debit balance of $3,200 before any year-end adjustment for bad debts. Prepare the adjusting journal entry that Davis Company should make on December 31, of the current year, to estimate bad debts expense.
Commitment
The state or quality of being dedicated to a cause, activity, or job; wholehearted devotion.
Representative Workforce
An employee base that reflects the diversity of the demographic composition of the society it operates in.
Demographic Composition
The statistical characteristics of a population, including aspects such as age, race, gender, and income levels.
Employment Equity Program
A policy aimed at eliminating discrimination and promoting equal opportunity for all job applicants and employees in the workplace.
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