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NEED ASAP IN 30 MIN PLEASE!!! PLEASE SHOW WORK!! Question 18 8 points Save Answer Tracy Company reported accounts receivable and an allowance for uncollectible
NEED ASAP IN 30 MIN PLEASE!!! PLEASE SHOW WORK!!
Question 18 8 points Save Answer Tracy Company reported accounts receivable and an allowance for uncollectible accounts of $90,000 and $2,000, respectively, at December 31, 2020. During 2021, Tracy's credit sales and collections were $500,000 and $435,000, respectively, and $1,600 in accounts receivable were written off. For 2021, Tracy estimates bad debt expense at 1% of credit sales. The net amount of accounts receivable reported in the 2021 balance sheet would be: $146,000. $150,000 $148,000 $155,000Step by Step Solution
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