Business
Business, 10.12.2019 02:31, oliwia0765

As of january 1, 2021, farley co. had a credit balance of $520,000 in its allowance for uncollectible accounts. based on experience, 2% of farley's credit sales have been uncollectible. during 2021, farley wrote off $650,000 of accounts receivable. credit sales for 2021 were $18,000,000. in its december 31, 2021, balance sheet, what amount should farley report as allowance for uncollectible account

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As of january 1, 2021, farley co. had a credit balance of $520,000 in its allowance for uncollectibl...

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