Upsidedown Cake Company produces dessert products for sale in grocery stores, but it also has a retail
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Question:
Upsidedown Cake Company produces dessert products for sale in grocery stores, but it also has a retail location. At the end of the company had $ in accounts receivable before netting out $ of allowance for doubtful accounts. At the prior yearend, the corresponding amounts were $ and respectively. The companys sales in totalled $ of which $ was sold on credit. The company recorded bad debts expense of $ in
Required:
Determine the amount of cash collected from customers for the year and the amount of receivables written off in the fiscal year.
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