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Walter & Co has produced the following detailed aging of outstanding accounts receivable as of December 31, 2009 0-30 400,000 90% 31-60 200,000 75% 61-90
Walter & Co has produced the following detailed aging of outstanding accounts receivable as of December 31, 2009 0-30 400,000 90% 31-60 200,000 75% 61-90 300,000 50% 91-180 100,000 25% over 180 200,000 10% prepare an aging analysis and show how accounts receivable and the related allowance for doubtful accounts would appear in the balance sheet at December 31,2009 on January 31, 2010, Janet won the lottery and on the same day she decided to repay all of her original debts to everyone whom she owed money. Prepare the journal entry to record Walters unexpected receipt of Janet's payment.
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