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Business, 16.03.2020 23:24 alexsrules9711

Effect of doubtful accounts on net income. During its first year of operations, fisher plumbing supply Co. had sales of $2,780,000, wrote off $16,000 of accounts as uncollectible using the direct write-off method and reported net income of $120,000. Determine what the net income would have been if the allowance method had been used and the company estimated that 1% of sales would be uncollectible $

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Effect of doubtful accounts on net income. During its first year of operations, fisher plumbing supp...
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