Brief exercise 7.7 accounting for uncollectible accounts: an income statement approach wilson corporation uses an income statement approach to estimate credit losses. its gross accounts receivable of $5,000,000 at the beginning of the period had a net realizable value of $4,925,000. during the period, the company wrote off actual accounts receivable of $100,000 and collected $7,835,000 from credit customers. credit sales for the year amounted to $9,000,000. of its credit sales, 1 percent was estimated to eventually be uncollectible. determine the net realizable value of the company’s accounts receivable at the end of the period.
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Business, 22.06.2019 17:30
If springfield is operating at full employment who is working a. everyone b. about 96% of the workforce c. the entire work force d. the robots
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Business, 22.06.2019 18:00
*will mark brainliest! * when a company spends resources (labor, money) to give customers "free" items, those costs are called a. investment costs b. economic costs c. scarcity costs d. opportunity costs answer asap!
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Business, 22.06.2019 19:00
1. regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool.
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Business, 22.06.2019 20:00
On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?
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Brief exercise 7.7 accounting for uncollectible accounts: an income statement approach wilson corpo...
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