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Problem 8-2A (Part Level Submission) At December 31, 2016, Novak Corp. Imports reported this information on its balance sheet. Accounts receivable...

Problem 8-2A (Part Level Submission)

At December 31, 2016, Novak Corp. Imports reported this information on its balance sheet.


Accounts receivable

$564,800Less: Allowance for doubtful accounts

35,700

During 2017, the company had the following transactions related to receivables.


1.

Sales on account

$2,896,8002.

Sales returns and allowances

91,6483.

Collections of accounts receivable

2,637,5004.

Write-offs of accounts receivable deemed uncollectible

43,8405.

Recovery of bad debts previously written off as uncollectible

13,830


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'No Account Title and Explanation Debit Credit 1 Accounts Receivable 2896800 Sales Revenue 2896800 2 Sales Return... View the full answer

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