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Quality Book Sales began Year 2 with $78,500 Accounts Receivable and $4,710 Allowance for Doubtful...

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Accounting

Quality Book Sales began Year 2 with $78,500 Accounts Receivable and $4,710 Allowance for Doubtful Accounts.

During the year, Quality experienced the following transactions:

  1. Sales on Account $550,000
  2. Collection on Accounts Receivable $556,000
  3. After several collection attempts, wrote off $2,850 of accounts that could not be collected.
  4. Estimated 4% of receivables are uncollectible.

What is the balance in Accounts Receivable immediately after the write-off in #3 above?

What is the balance in the Allowance for Doubtful Accounts immediately after the write-off in #3?

What is the Uncollectible Accounts Expense for Year 2?

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