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56. At the start of the current year, Minuteman Corporation had a credit balance in the Allowance for Doubtful Accounts of $1,800. During the year
56. At the start of the current year, Minuteman Corporation had a credit balance in the Allowance for Doubtful Accounts of $1,800. During the year a monthly provision of 2% of sales was made for uncollectible accounts. Sales for the year were $600,000, and $5,600 of accounts receivable were written off as worthless. No recoveries of accounts previously written off were made during the year. The year-end financial statements should show: (3 Points) Uncollectible accounts expense of $5,600. Allowance for Doubtful Accounts with a credit balance of $8,200. Allowance for Doubtful Accounts with a credit balance of $6,400. Uncollectible accounts expense of $13,800
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