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Prepare the necessary journal entries

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Question - Journalize various Accounts Receivable Transactions. The balance of Clemons Company at December 31, 2019, includes the following:

Notes Receivable 85,000

Accounts Receivable 261,650

Less: Allowance for doubtful accounts 14,690

Total 246,960

Prepare the necessary journal entries for 2020.

1. Accounts receivable of $200,000 were collected including accounts of $90,000 on which 1% sales discounts were allowed.

Reference no: EM132676936

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