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Dundee Company started business on January I of the current year . The company made total sales of $ 9 0 0 , 0 0 0 during the year , of which $ 1 5 0 , 0 0 0 were cash sales . By the end of the year , Dundee had received payments of $ 6 7 5 , 0 0 0 from its customers on account . It also wrote off as uncollectible $ 1 0 , 0 0 0 of its receivables when it learned that the customer who owed this amount had filed for bankruptcy . That was Dundee Company \' s only entry related to bad debts for t