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The balance of the accounts receivable account of Griffin Ltd. at December 31, 2019 was $74,460. Included in this balance are the credit balances of

The balance of the accounts receivable account of Griffin Ltd. at December 31, 2019 was $74,460. Included in this balance are the credit balances of two customers, amounting to $3,200 and $1,800.

Required:

1. What amount for accounts receivable would be shown as assets on the balance sheet?

2. How would the credit balances in the customers accounts be disclosed?

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