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Accounts receivable transactions are provided below for J Cullumber Co. Dec 31, 2023 The company estimated that 5% of its accounts receivable would become uncollectible.
Accounts receivable transactions are provided below for J Cullumber Co. Dec 31, 2023 The company estimated that 5% of its accounts receivable would become uncollectible. The balances in the Accounts Receivable account and Allowance for Doubtful Accounts were $693,000 and $2,600 (debit). respectively. Mar. 5.2024 The company determined that R. Mirza's $3,900 account and D. Wight's $7,500 account were uncollectible The company's accounts receivable were $730,400 before the accounts were written off. June 6.2024 Wight paid the amount that had been written off on March 5. The company's accounts receivable were $681,600 prior to recording the cash receipt for Wight. Calculate the carrying amount of the accounts receivable both before and after recording the cash receipt from Wight on June 6 . 2024. Carrying amount before recovery Carrying amount after recovery
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