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ortiz inc. has the following balances before doing adjusting entries for the year ended 12/31/year6. all sales were on credit (and were recorded earlier in the period.). the allowance has a normal (credit) balance (i.e. it is a negative asset.) accounts receivable100,000 debit allowance for uncollectible accounts900 credit sales revenue500,000 credit assume ortiz inc. uses the % of accounts receivable method and estimates that 4% of accounts receivable will be uncollectible. what will ortiz inc. report as bad debt expense for on the income statement for the year ended 12/31/year6? a. 4,000 b. 24,000 c. 3,100 d. 4,900

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