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Sales totaled $385,000,net accounts receivable had a beginning and ending balance of $39,000 and $45,500,respectively.Cash collections from customers were:
Noncurrent Assets
Long-term assets not expected to be converted into cash within a year, such as property, plant, and equipment.
Uncollectible
Refers to debts or receivables that are deemed not recoverable and are therefore written off as a loss.
Fiscal Year
The annual accounting period adopted by a business.
Other Receivable
Financial claims against other parties excluding customers, typically representing short-term non-trade receivables such as refunds, deposits, or advances.
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