Business, 21.10.2021 01:00 rylei

The following selected information is from Company A's Year 2 and Year 3 financial statements: January 1, Year 2, accounts receivable $20,000
Bad debt expense recognized in Year 2 1,480
Accounts receivable written off in Year 2 1,000
January 1, Year 2, allowance for uncollectible accounts 800
Credit sales in Year 2 95,000
Accounts receivable written off in Year 3 2,000
Credit sales in Year 3 100,000
Cash collected from customers in Year 3 85,000

The company uses the balance-sheet approach to calculate the allowance for uncollectible accounts. The company estimates that 4% of its gross accounts receivable will become uncollectible. During Years 2 and 3, no accounts previously written off became payable.

Required:
Write down Company A's balance sheet using the information above.

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The following selected information is from Company A's Year 2 and Year 3 financial statements: Jan...

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