CourseLover

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    Devry University
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    NatSteel Holdings Pte Ltd
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Category > Business & Finance Posted 07 Dec 2017 My Price 10.00

allowance for doubtful accounts

Sandy Corp. had a 1/1/16 balance in the allowance for doubtful accounts of $12,000. During 2016, it wrote off $8,640 of accounts and collected $2,520 on accounts previously written off. The balance in accounts receivable was $240,000 at 1/1 and $288,000 at 12/31. At 12/31/16, Sandy estimates that 5% of accounts receivable will prove to be uncollectible. What should sandy report as its allowance for doubtful accounts at 12/31/16 ?

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CourseLover
(12)
Status NEW Posted 07 Dec 2017 06:12 AM My Price 10.00

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