lopez operations on jan. 1,2010, record each transaction for lopez company

Lopez Company began operations on January 1. 2010. During its first two years. the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows. a. Sold 51 803,750 of merchandise (that had cost $1.475.000) on credit. terms n/30. b. Wrote off $20.300 of uncollectible accounts receivable. c. Received $789,200 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that (1.5%% of accounts receivable will be uncollectible