Reported an allowance for uncollectible accounts


In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $83,100. During the year, Dinty wrote off $31,100 of accounts receivable they had attempted to collect and failed. Credit sales for the year were $2,280,000, and cash collections from credit customers totaled $1,770,000.

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Accounting Basics: Reported an allowance for uncollectible accounts
Reference No:- TGS066365

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