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Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 3
Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December the company's fiscal yearend. The balance sheet disclosed the following:
Current assets:
Receivables, net of allowance for uncollectible accounts of $
$$
During credit sales were $ cash collections from customers $ and $ in accounts recelvable were written off. In addition, $ was collected from a customer whose account was written off in An aging of accounts recelvable at December reveals the following:
tableAge Group,tablePercentage of YearEndReceivables in GrouptablePercent days days,
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