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QUESTION 25 SRV Co had a beginning balance in Accounts Receivable of $100,000 and a beginning credit balance in the Allowance for Doubtful Accounts of
QUESTION 25 SRV Co had a beginning balance in Accounts Receivable of $100,000 and a beginning credit balance in the Allowance for Doubtful Accounts of $5,000 During the year they sold $400,000 of goods on credit and collected $300.000 SRV wrote of $6,000 from a bankrupt customer SRV estimates that 1% of their ending accounts receivable will eventually not be collected Record the journal entry to record the sale of goods on credit during the year Account name Debt Credit Dencion Record the journal entry to record the collector of Accounts Receivable during the year Dobit Credit Account Descntion Record member to recognize the account written on during the year Antrame Dene Chede
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