On January 1, Year 2, Grande Company had a $68,200 balance in the Accounts Receivable account and a $2,300 balance in the Allowance for Doubtful Accounts account. During Year 2, Grande provided $176,000 of service on account.
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At the end of Year 2, retained earnings for the Baker Company was $3,450. Revenue earned by the company in Year 2 was $3,700, expenses paid during the period were $1,950, and dividends paid during the period were $1,350.
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ABC Company expects the following sales and collection pattern for the last 4 months of the year. Month Cash Sales Credit Sales Total Sales September $25,000 $65,000 $90,000 October $28,000 $72,000 $100,000 November $26,000 $68,000 $94,000 December
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