Question
Innovative Tech Inc. (ITI) uses the percentage of credit sales method to estimate bad debts each month and then uses the aging method at year-end.
Innovative Tech Inc. (ITI) uses the percentage of credit sales method to estimate bad debts each month and then uses the aging method at year-end. During November 2013, ITI sold services on account for $120,000 and estimated that 1/2 of one percent of those sales would be uncollectible. At its December 31 year-end, total Accounts Receivable is $96,600, aged as follows: (1) 1
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Traveling Consultants Guide To Auditing UNIX
Authors: Mark Adams
1st Edition
1105616398, 978-1105616396
