Business, 16.12.2019 19:31, dflorez3064

Liang company began operations on january 1, 2017. during its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. these transactions are summarized as follows.

cant figure out 5d and 5h

2017

sold $1,351,400 of merchandise (that had cost $983,100) on credit, terms n/30.

wrote off $18,700 of uncollectible accounts receivable.

received $674,100 cash in payment of accounts receivable.

in adjusting the accounts on december 31, the company estimated that 2.00% of accounts receivable will be uncollectible.

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Liang company began operations on january 1, 2017. during its first two years, the company completed...