Chapter 8, Problem 18DQ

The gross profit ratio for the year accounting question

BazukaAccounting Services recorded several financial transactions during the period. The company received $45,000 in cash from credit customers and allowed $2,500in sales discounts. Additionally, $1,800 in bad debts were written off. Given that the beginning balance of Accounts Receivable was $85,000, calculate theending balance of Accounts Receivable.

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