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What is beginning balance in allowance for doubtful accounts

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Problem - At the close of its first year of operations, December 31, 2020, Manhattan Company had accounts receivable of $1,180,000. During 2020, the company had charges to bad debt expense of $180,000 and wrote off, as uncollectible, accounts receivable of $80,000. The company estimates that 10% of its outstanding receivables will be uncollectible. What is the beginning balance in allowance for doubtful accounts?

Reference no: EM132937080

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