Business
Business, 13.03.2021 02:00, Nismo3501037

During its first year of operations, Mack's Plumbing Supply Co. had sales of $550,000, wrote off $8,800 of accounts as uncollectible using the direct write-off method, and reported net income of $60,500. Determine what the net income would have been if the allowance method had been used, and the company estimated that 2.5% of sales would be uncollectible.

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During its first year of operations, Mack's Plumbing Supply Co. had sales of $550,000, wrote off $8,...

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