Yellow Corp.'s account balances at December 31, 2017 included Accounts Receivable, $720,000 debit; Allowance for Doubtful Accounts, $800 debit.Sales during 2017 were $1,840,000.It is estimated that 2% of sales will be uncollectible.The required adjusting entry would include a credit to the allowance account for

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The Answer of Yellow Corp.'s account balances at December 31, 2017 included Accounts Receivable, $720,000 debit; Allowance for Doubtful Accounts, $800 debit.Sales during 2017 were $1,840,000.It is estimated that 2% of sales will be uncollectible.The required adjusting entry would include a credit to the allowance account for