On January 1 Year 2. Grande Company had a $72,400 balance in the Accounts Receivable...
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Accounting
On January 1 Year 2. Grande Company had a $72,400 balance in the Accounts Receivable account and a $3,200 balance in the Allowance for Doubtful Accounts account. During Year 2, Grande provided $197,000 of service on account. The company collected $239,900 cash from accounts receivable. Uncollectible accounts are estimated to be 1% of sales on account. The amount of uncollectible accounts expense recognized on the Year 2 income statement is: Multiple Choice 0 $724 0 0 $1,350
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