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The table below summarizes some balances and activity for Company. The first two balances are at amounts as of the START of the year. The rest summarize activity during the year.
Accounts Receivable, 1/1/Year5 $ 300,000
Allowance for uncollectible accounts 1/1/Year5 (normal credit balance) $25,000
Sales Revenue (all on credit) during Year5 $ 4,000,000
Collections on account during Year5 $ 3,800,000
Write-offs of specific accounts during Year5 $ 23,000
Problem 1: The balances above are just before Company records the adjusting entry for bad debt expense for Year5. What is the balance in the Accounts Receivable account at 12/31/Year5?
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