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Concord Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $20000. During 2020, it wrote off $15100 of accounts and collected $4360
Concord Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $20000. During 2020, it wrote off $15100 of accounts and collected $4360 on accounts previously written off. The balance in Accounts Receivable was $400000 at 1/1 and $550000 at 12/31. At 12/31/20, Concord estimates that 6% of accounts receivable will prove to be uncollectible. What should Concord report as its Allowance for Doubtful Accounts at 12/31/20? O $33000. O $22260. O $9260. O $17900
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