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Question 3. Concord Co. provides for doubtful accounts based on 2% of gross accounts receivable, The

Question 3. Concord Co. provides for doubtful accounts based on 2% of gross accounts receivable, The

3. Concord Co. provides for doubtful accounts based on 2% of gross accounts receivable, The following data are available for 2017. $1,489,400 Credit sales during 2017 58,940 Bad debt expense Allowance for doubtful accounts 1/1/17 17,240 Collection of accounts written off in prior years (customer credit was reestablished) 8,470 Customer accounts written off as uncollectible during 20 27,720 What is the balance in Allowance for Doubtful Accounts at December 31, 2017? The balance in Allowance for Doubtful Accounts 86718

 
manish jayant 22-Apr-2020

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