Business, 05.03.2020 11:59, 1Angel2Got3Brains
On january 1, year 2, kincaid company's accounts receivable and the allowance for doubtful accounts carried balances of $31,000 and $500, respectively. during the year kincaid reported $72,500 of credit sales. kincaid wrote off $550 of receivables as uncollectible in year 2. cash collections of receivables amounted to $74,550. 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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