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Exercise 7-3A Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts LO 7-1 The following account balances come from
Exercise 7-3A Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts LO 7-1 The following account balances come from the records of Ourso Company: Beginning Balance $2,800 280 Ending Balance $3,600 350 Accounts receivable Allowance for doubtful accounts During the accounting period, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account receivable. Required a. Determine the amount of cash collected from receivables. Collections of accounts receivable b. Determine the amount of uncollectible accounts expense recognized during the period. Uncollectible accounts expense
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