A company's preliminary trial balance reflects an accounts receivable balance of $80,000 and a debit balance in the Allo

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A company's preliminary trial balance reflects an accountsreceivable balance of $80,000 and a debit balance in the Allowancefor Doubtful Accounts of $300. Per review of the Aged Receivableslisting, 50% of the accounts receivable are current and 50% areover-due. Management estimates that 3% of the current accounts and3.5% of the over-due accounts will be uncollectible. The adjustingjournal entry to update the Allowance for Doubtful accounts isfor:
Multiple Choice
$2,900
$2,700
None of the other alternatives are correct
$2,400
$2,300