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Chez Fred Bakery estimates the allowance for uncollectible accounts at 3% of the ending balance of accounts receivable. During 2018, Chez Fred's credit sales and collections were $125,000 and $131,000, respectively. What was the balance of accounts receivable on January 1, 2018, if $180 in accounts receivable were written off during 2018 and if the allowance account had a balance of $750 on December 31, 2018?
Carbon Monoxide
A colorless, odorless, and poisonous gas produced by the incomplete combustion of carbon-containing materials.
Tar
A dark, thick, and sticky liquid derived from coal or wood, used for waterproofing, sealing, and paving, or as a component in certain manufacturing processes.
Single-Parent Families
Single-Parent Families are families with children that are headed by a single parent as a result of divorce, death, or other circumstances.
Divorce
The legal dissolution of a marriage by a court or other competent body.
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