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Near the End of 20B,the Ledger of Dice Company Included

Question 3

Essay

Near the end of 20B,the ledger of Dice Company included the following accounts and balances:
Cash collections on trade receivables during 20B amounted to $148,500.Sales revenue during 20B amounted to $200,000,of which 75% was on credit,and it was estimated that 2% of the credit sales made in 20B would ultimately become uncollectible.Before adjusting entries were made for 20B,(a)a $600 account was determined to be uncollectible and written off by Dice and (b)bad debt expense was recorded to 20B.These adjustments are not reflected in the account balances above.
After the above entries were posted to the ledger,the account balances were as follows (give the amount under the appropriate debit or credit column):
Near the end of 20B,the ledger of Dice Company included the following accounts and balances: Cash collections on trade receivables during 20B amounted to $148,500.Sales revenue during 20B amounted to $200,000,of which 75% was on credit,and it was estimated that 2% of the credit sales made in 20B would ultimately become uncollectible.Before adjusting entries were made for 20B,(a)a $600 account was determined to be uncollectible and written off by Dice and (b)bad debt expense was recorded to 20B.These adjustments are not reflected in the account balances above. After the above entries were posted to the ledger,the account balances were as follows (give the amount under the appropriate debit or credit column): Near the end of 20B,the ledger of Dice Company included the following accounts and balances: Cash collections on trade receivables during 20B amounted to $148,500.Sales revenue during 20B amounted to $200,000,of which 75% was on credit,and it was estimated that 2% of the credit sales made in 20B would ultimately become uncollectible.Before adjusting entries were made for 20B,(a)a $600 account was determined to be uncollectible and written off by Dice and (b)bad debt expense was recorded to 20B.These adjustments are not reflected in the account balances above. After the above entries were posted to the ledger,the account balances were as follows (give the amount under the appropriate debit or credit column):

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