For its fiscal year ended December 31, 2023, Fruitful Products had credit sales of $750,000....
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Accounting
For its fiscal year ended December 31, 2023, Fruitful Products had credit sales of $750,000. At year end, the unadjusted trial balance shows a debit balance of $1,800 in the Allowance for Doubtful Accounts (AFDA), and $140,000 in Accounts Receivable. The credit manager prepared an aging schedule of accounts receivable and estimates that $5,XXX will prove to be uncollectible. On March 4, 2024, the credit manager authorizes a write off of the $2,ZZZ balance owed by Sand Beach
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