Murty Company began operations in January 2014 and had the following summary transactions: ...

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Accounting

Murty Company began operations in January 2014 and had the following summary transactions:
Total sales for 2014 amounted to $1,250,000,60% of which were on credit.
The accounts collected during the year totaled $530,000.
Accounts Receivable write-offs totaled $8,000 during the year.
The Allowance for Doubtful Accounts had Zero balance.

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