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Business, 09.04.2020 03:53 Vickyvics4113
On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $76,000 and $4,000, respectively. During the year Kincaid reported $215,000 of credit sales. Kincaid wrote off $2,100 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $271,100. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales. The net realizable value of receivables appearing on Kincaid's Year 2 balance sheet will amount to:
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On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts...
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