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On 3anuary 1, Hungryman Inc, has the following balances for accounts receivable and allowance for doubtful accounts: During the year, Hungryman had $1,060,000 of credit
On 3anuary 1, Hungryman Inc, has the following balances for accounts receivable and allowance for doubtful accounts: During the year, Hungryman had $1,060,000 of credit sales, collected $658,600 of accounts receivable, and wrote off $25,300 of accounts receivable as uncollectible. At year end, Hungryman performs an aging of its accounts receivable balance and estimates that $33,500 will be uncollectible. Required: 1. Calculate Hungryman's preadjustment balance in accounts receivable on December 31 . x 2. Calculate Hungryman's preadjustment batance in allowance for doubtful accounts on December 31. 5 x roheck My Work 1. and 2. Using T-accounts, start with the balance at the beginning of the year and make the necessary debits and/or credits for the transactions that occurred during the year
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