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The following information is available for Quality Book Sales's sales on account and accounts receivable: Accounts Receivable Balance, January 1, Year 2 $ 125,460 Allowance
The following information is available for Quality Book Sales's sales on account and accounts receivable: Accounts Receivable Balance, January 1, Year 2 $ 125,460 Allowance for Doubtful Accounts, January 1, Year 2 3,150 Sales on Account, Year 2 875,800 Collections of Accounts Receivable, Year 2 901,134 After several collection attempts, Quality Book Sales wrote off $2,740 of accounts that could not be collected. Quality Book Sales estimates that 1.25 percent of sales on account will be uncollectible. Required a. Compute the following amounts: (1) Using the allowance method, the amount of uncollectible accounts expense for Year 2. (Round your final answer to
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