Larkspur, Inc. had net sales in 2020 of $1,447,100. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $204,600 debit, and Allowance for Doubtful Accounts $1,940 debit. Assume that 11% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense.
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