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In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $83,800. During the
In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $83,800. During the year, Dinty wrote off $31,000 of accounts receivable it had attempted to collect and failed. Credit sales for the year were $2,350,000, and cash collections from credit customers totaled $1,800,000. |
What accounts receivable balance would Dinty report in its first year-end balance sheet?
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