Crane, Inc. had net sales in 2020 of $1,488,400. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $206,300 debit, and Allowance for Doubtful Accounts $3,260 credit. If Crane estimates that 7% of its receivables will prove to be uncollectible. Prepare the December 31, 2020, journal entry to record bad debt expense.
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