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In the first year of operations, 2013, Jake's Repair Service recognized $110,000 of service revenue on account. The ending accounts receivable balance was $7,550. Jake estimates that 3% of sales on account will not be collected; no accounts receivable had been written off by year end. Assume there were no other transactions affecting accounts receivable.
a) What amount of cash was collected in 2013?
b) What amount of uncollectible accounts expense was recognized in 2013?
Conflict Resolution
The process of resolving a dispute or disagreement between parties through effective communication, negotiation, and problem-solving strategies.
Conflict Type
The categorization of conflict based on its nature, such as interpersonal, intrapersonal, organizational, or environmental conflict.
Wooden Leg
A prosthetic limb made from wood, traditionally used to replace a missing leg.
Negative Situation
A circumstance or set of conditions that adversely affects individuals, groups, or outcomes.
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