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1. On January 1, Year 2, Grande Company had a $66,200 balance in the Accounts Recelvable account and a $1,900 balance in the Allowance for
1. On January 1, Year 2, Grande Company had a $66,200 balance in the Accounts Recelvable account and a $1,900 balance in the Allowance for Doubtful Accounts account. During Year 2, Grande provided $ S185.700 cash from accounts receivable. Uncollectible accounts are estimated to be 1% of sales on account. The amount of lectible accounts expense recognized on the Year 2 income statement is: accounts 166,000 of service on account. The company collected
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