A company's year-end balance in accounts receivable is $2,200,000. The allowance for uncollectible accounts had a beginning-of- year credit balance of $38,000. An aging of accounts receivable at the end of the year indicates a required allowance of $46,000. If bad debt expense for the year was $48,000, and if credit sales for the year were $7,700,000, and $7,100,000 was collected from credit customers, what was the beginning-of-year balance in accounts receivable? Beginning balance in A/R Logitech Corporation transferred $155,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 90% of the factored amount to Logitech and retains the remaining 10%. When the bank collects the receivables, it will remit to Logitech the retained amount less a fee equal to 2% of the total amount factored. Logitech estimates a fair value of its 10% interest in the receivables of $9,000 (not including the 2% fee). What is the effect of this transaction on the company's assets, liabilities, and income before income taxes? Assets Liabilities decreased by would not change $ 0 Income before income taxes decreased by