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Chez Fred Bakery estimates the allowance for uncollectible accounts at 2% of the ending balance of accounts receivable. During 2024 , Chez Fred's credit sales
Chez Fred Bakery estimates the allowance for uncollectible accounts at 2% of the ending balance of accounts receivable. During 2024 , Chez Fred's credit sales and collections were $114,000 and $134,000, respectively. What was the balance of accounts receivable on January 1,2024 , if $280 in accounts receivable were written off during 2024 and if the allowance account had a balance of $750 on December 31,2024 ? Multiple Choice $34,000 $680 $57,780 None of these answer choices are correct
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