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James River Enterprises has made an analysis of its sales and accounts receivable for the...

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Accounting

James River Enterprises has made an analysis of its sales and accounts receivable for the past five years. Assume that all accounts written off in any year related to sales of the preceding year, and were part of the accounts receivable at the end of that preceding year. No account is written off before the end of the year of the sale, and all accounts remaining unpaid are written off before the end of the year following the sale. EXAMPLE: The $12,500 written off in 1996 related to 1995 sales, and was included in the ending accounts receivable for 1995.
The analysis showed the following:
\table[[,SALES,\table[[ENDING ACCOUNTS],[RECEIVABLE]],\table[[BAD DEBTS WRITTEN],[OFF DURING THE YEAR]]],[1995,$680,000,$90,000,$12,000
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