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Question - Suppose at the end of the year before any adjusting entries, Sun Devil company has a balance in Allowance for Uncollectible Accounts of $5,000 (debit). During the year, the company reported the following amounts:
Credit sales to customers = $550,000
Cash collections from customers = $540,000
Actual bad debts = $20,000
Required - What was the balance of Allowance for Uncollectible Accounts at the beginning of the year?
A. $20,000.
B. $10,000.
C. $15,000.
D. $25,000.
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