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The CHS Company has provided the following information: Accounts receivable written-off as uncollectible during the year amounted to $12,400. The accounts receivable balance at the
The CHS Company has provided the following information: | |
Accounts receivable written-off as uncollectible during the year amounted to $12,400. | |
The accounts receivable balance at the beginning of the year was $240,000. | |
The accounts receivable balance at the end of the year was $300,000. | |
The allowance for doubtful accounts balance at the beginning of the year was $14,900. | |
The allowance for doubtful accounts balance at the end of the year after the recording of bad debt expense was $13,800. | |
Credit sales during the year totaled $945,000. | |
How much cash was received from collections of accounts receivable? |
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