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At the beginning of the current period, Novak Corp. had balances in Accounts Receivable of $256,000 and in Allowance for Doubtful Accounts of $11,520.
At the beginning of the current period, Novak Corp. had balances in Accounts Receivable of $256,000 and in Allowance for Doubtful Accounts of $11,520. During the period, it had net credit sales of $1,024,000 and collections of $976,640. It wrote off as uncollectible accounts receivable of $9,344. Uncollectible accounts are estimated to total $32,000 at the end of the period. (Omit recording cost of goods sold.)
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