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Business, 02.12.2019 19:31 rosetoheart2

During year 1, ramona department store had total sales of $1,500,000, of which 80% were on credit. the beginning balance in accounts receivable (on january 1 of year 1) was $82,500. the beginning balance in the allowance for bad debts (on january 1 of year 1) was $10,000. the amount of accounts written off as uncollectible during the year was $13,500. the following aging of accounts receivable is for ramona company at the end of year 1. aging of accounts receivable december 31 of year 1 total less than 30 days 31 days to 60 days 61 days to 90 days over 90 days $246,000 $183,000 $36,000 $12,000 $15,000 ramona company has developed the following bad debt information from its own past experience. age of account percent ultimately uncollectible less than 30 days 2 31 to 60 days 12 61 to 90 days 35 over 90 days 90. how much cash was collected from credit customers during the year?

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During year 1, ramona department store had total sales of $1,500,000, of which 80% were on credit. t...

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