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At December 31, Gill Co. reported accounts receivable of $233,000 and an allowance for uncollectible accounts of $1,000 (credit) before any adjustments. An analysis
At December 31, Gill Co. reported accounts receivable of $233,000 and an allowance for uncollectible accounts of $1,000 (credit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectibl accounts should be 2% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: Multiple Choice $4,660. $3,370. $3,660. $1,000.
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Core Concepts of Accounting
Authors: Cecily A. Raiborn
2nd edition
470499478, 978-0470499474
