During 2009, Signature Lamp Company completed these transactions: 1. Sales revenue on account, ($ 400,000) (ignore cost
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During 2009, Signature Lamp Company completed these transactions:
1. Sales revenue on account, \(\$ 400,000\) (ignore cost of goods sold).
2. Collections on account, \(\$ 420,000\).
3. Write-offs of uncollectibles, \(\$ 6,000\).
4. Uncollectible-account expense, \(2 \%\) of sales revenue.
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