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The Accounts Receivable balance for Wedge Company at December 31, 2023 , was $ 30,000 . During 2024 , Wedge earned revenue of $ 460,000

The Accounts Receivable balance for Wedge Company at December 31, 2023 , was $ 30,000 . During 2024 , Wedge earned revenue of $ 460,000 on account and collected $ 330,000 on account. Wedge wrote off $ 5,400 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 2 % of accounts receivable.

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