pass general entries to record the above transactions
• Account Receivable on 1.1.2017 is 80,000
• Allowance for Bad debts on 1.1.2017 is 500
• Sales is 850,000
• Sales return and allowance is 10,000
• Cash Collection from customers is 675,000
• Customers’ accounts written off amount is 50,000
• Previously written off accounts recovered is 1,500
• Bad debts expenses are estimated to be 1
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