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Oriole Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible
Oriole Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible accounts were estimated to be 11% of accounts receivable. Using your knowledge of receivables transactions, determine the missing amounts. Ignore any inventory, cost of goods sold, and refund liabilities for the purposes of this question. (Hint: You may find it helpful to reconstruct the journal entries.) Account Titles and Explanation Debit Credit (To record sales on account for the year.) (To record write off of accounts receivable.) (To record estimate of uncollectible accounts.) What is the amount of cash collected? Cash collected $ eTextbook and Media
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