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Category > Business & Finance Posted 12 Dec 2017 My Price 10.00

allowance for doubtful accounts

Merlin Co. reports under ASPE with a December 31 fiscal year-end. On January 2, the unadjusted balance in the allowance for doubtful accounts is a debit of $15,000.Previously, the allowance was established at 2% of accounts receivable, but recent industry analysis suggests that, going forward, the allowance should be established at4% of accounts receivable.

If the year-end accounts receivable balance is $625,000, the correct year-end adjustment is a credit to the allowance for doubtful accounts for

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

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