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$7,000
$24,000
12Multiple Choice Question 103
Using the following information:
12/31/12
Accounts receivable $ 525,000
Allowance (35,000 )
Cash realizable value $ 490,000
During 2013, sales on account were $145,000 and collections on
account were $100,000. Also during 2013, the company wrote off
$8,000 in uncollectible accounts. An analysis of outstanding receivable
accounts at year end indicated that uncollectible accounts should be
estimated at $40,000.
Bad debts expense for 2013 is
$40,000.
$13,000.
$5,000.
$8,000.
13Multiple Choice Question 118