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Rona Co. reported sales revenue of $4,600,000 in its income statement for the year ended December 31 2018. Additional information is as follows:
12/31/2018 12/31/2019
Accounts Receivables $1,000,000 $1,300,000
Allowance for uncollectable accounts (60,000) (110,000)
Question 1: Rona wrote off uncollectable account totaling $20,000 during the year 2019. Under the cash basis of accounting, Rona would had reported 2019 sales of
a) $4,900,000
b) $4,350,000
c) $4,300,000
d) $4,280,000
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