Question

The following information relates to a company’s accounts receivable: accounts receivable balance at the

beginning of the year, $460,000; allowance for uncollectible accounts at the beginning of the year, $35,000 (credit balance); credit sales during the year, $1,750,000; accounts receivable written off during the year, $26,000; cash collections from customers, $1,900,000. Assuming the company estimates bad debts at an amount equal to 2% of credit sales

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