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  3. the shooting company recognized $109,000 of servic

The Shooting Company recognized $109,000 of service revenue earned on account during Year 2. There...

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Accounting

The Shooting Company recognized $109,000 of service revenue earned on account during Year 2. There was no beginning balance in the accounts receivable and allowance accounts. During Year 2, Shooting collected $75,000 of cash from accounts receivable. The company estimates that it will be unable to collect 3% of its sales on account. The amount of uncollectible accounts expense recognized on the Year 2 income statement was:
$34,000.
$3,270.
$2,250.
$1,020.
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