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How much will transaction decrease the accounts receivable

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Problem 1: Renata inc. had their year end on December 31. At that time they were owed accounts receivable of $970,000 and had an allowance for doubtful accounts of $21,000. On January 3rd they were notified that one of their customers had gone bankrupt and would not be paying the $3,200 they owed Renata. By how much will this transaction decrease the accounts receivable balance Renata shows on their balance sheet?

Reference no: EM132622630

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