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12. Chez Fred Bakery estimates the allowance for uncollectible accounts at 2% of the ending balance of accounts receivable. During 2018. Chez Fred's credit sales
12. Chez Fred Bakery estimates the allowance for uncollectible accounts at 2% of the ending balance of accounts receivable. During 2018. Chez Fred's credit sales and collections were 124,000 and $136,000, respectively. What was the balance of accounts receivable on January 1, 2018, if $270 in accounts receivable were written off during 2018 and if the allowance account had a balance of $660 on December 31, 2018? A. $36,000 B. $510. C. $45,270. D. None of these answer choices are correct
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
