Gonzalez Company has been in business several years. At the end of the current year, the ledger shows the following: Accounts Receivable $ 318,600 Dr. Sales Revenue 2,301,300 Cr. Allowance for Doubtful Accounts 6,600 Cr. Bad debts are estimated to be 5% of accounts receivables. Prepare the entry to adjust Allowance for Doubtful Accounts.
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