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During Year 1. Wadsworth Department Store had total sales of $1.500.000, of which 80% were on credit. The beginning balance in Accounts Receivable (on January

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During Year 1. Wadsworth Department Store had total sales of $1.500.000, of which 80% were on credit. The beginning balance in Accounts Receivable (on January 1 of Year 1) was $82,500. The beginning balance in the Allowance for Bad Debts (on January 1 of Year 1) was $10,000. The amount of accounts written off as uncollectible during the year was $13,500. The following aging of Accounts Receivable is for Wadsworth at the end of Year 1: Aging of Accounts Receivable December 31 of Year 1 Less than 30 Days $183,000 31 Days to 60 Days $36,000 61 Days to 90 Days $12,000 Over 90 Days $15,000 $246,000 Wadsworth has developed the following bad debt information from its own past experience: Age of Account Percent Ultimately Uncollectible Less than 30 days 2% 31 to 60 days 12% 61 to 90 days 35% Over 90 days 90% How much CASH was collected from CREDIT CUSTOMERS during the year? Total $1,360.500 O $1.036,500 $1,212,000 $1.200.000 O $1.185.000 $1,023,000

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