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Business, 10.03.2020 08:18 natalieperalta88

Tyler Service Co. experienced the following transactions for 2014, its first year of operations: 1. Provided $86,000 of services on account. 2. Collected $72,000 cash from accounts receivable. 3. Paid $39,000 of salaries expense for the year. 4. Tyler adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Amount % to Be Uncollectible Allowance Balance
Current $7,500 .01
0-30 2,000 .05
31-60 1,500 .10
61-90 1,000 .30
Over 90 days 2,000 .50

Organize the information in accounts under an accounting equation

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