As of January 1, 2018, Farley Co. had a credit balance of $534,000 in its allowance for uncollectible accounts. Based on experie

Question

3 years ago

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As of January 1, 2018, Farley Co. had a credit balance of $534,000 in its allowance for uncollectible accounts. Based on experie

nce, 3% of Farley's credit sales have been uncollectible. During 2018, Farley wrote off $642,000 of accounts receivable. Credit sales for 2018 were $19,500,000.
1. In its December 31, 2018, balance sheet, what amount will Farley report as allowance for uncollectible accounts

Engineering

1 answer:

zepelin [54] · Answer 1 · 2022-07-05T18:50:40+03:00

zepelin [54]3 years ago

3 0

Answer:

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Explanation: