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Echo Companys 20X1 beginning and ending accounts receivable balances were $72,500 and $41,250 respectively. During 20X1, the companys credit sales amounted to $857,250. Per Echos
Echo Companys 20X1 beginning and ending accounts receivable balances were $72,500 and $41,250 respectively. During 20X1, the companys credit sales amounted to $857,250. Per Echos 20X1 cash flow statement, $873,500 was collected from customers while $18,750 related to uncollectible accounts was listed among the non-cash expenses. If Echos beginning balance in the allowance for credit losses was $17,600, the ending balance in this account must be Multiple Choice $15,000 $21,350 $36,350 The required allowance for credit losses balance cannot be determined from the data given
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