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Fullerton Company, which has been in business for three years, makes all of its sales on account and does not offer cash discounts. The firm's

Fullerton Company, which has been in business for three years, makes all of its sales on account and does not offer cash discounts. The firm's credit sales, coll. from customers, and write-offs of uncollectible accounts for the three-year period are summarized below:
\table[[Year,Sales,Collections,Accounts Written Off],[Year 1,$320,000,$287,000,$2,300
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