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On January 1, Cherry Company has the following balances: Accounts Receivable $24,000 (debit) Bad Debts Expense $0 Cherry Company has the following transactions during January:

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On January 1, Cherry Company has the following balances: Accounts Receivable $24,000 (debit) Bad Debts Expense $0 Cherry Company has the following transactions during January: Credit sales of $100,000, collections of credit sales of $88,000, and write-offs of $16,000. Cherry Company uses the direct write-off method. At the end of January, the balance of Accounts Receivable is $18,182 $20.000 $14,080 $36,000

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