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A company has the following data recorded in the books for the current year: $500 bad debt expense $700 collected for accounts written off in
A company has the following data recorded in the books for the current year:
$500 bad debt expense
$700 collected for accounts written off in prior years
$400 written off as uncollectible during current year
The January 1, 2021, beginning balance in the allowance for doubtful accounts was $2,500. If the company estimates 4% of year-end accounts receivable will be uncollectible, what is the balance in accounts receivable on December 31, 2021?
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