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Provided $170,000 of cleaning services on account. Collected $127,500 cash from accounts receivable. Paid salaries of $44,000 for the year. Adjusted the accounts to reflect
Provided $170,000 of cleaning services on account. Collected $127,500 cash from accounts receivable. Paid salaries of $44,000 for the year. Adjusted the accounts to reflect managements expectations that uncollectible accounts expense would be $2,100. The expense was determined using the percent of revenue method. Required: Organize the transaction data in accounts under an accounting equation.
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