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Nenn Cois allowance for uncollectible accounts was $190,000 at the end of 2012 and $180,000 at the end of 2011. For the year ended December
Nenn Cois allowance for uncollectible accounts was $190,000 at the end of 2012 and $180,000 at the end of 2011. For the year ended December 31, 2012. Nenn reported bad debt expense of $26,000 in its income statement. What amount did Nenn debit to the appropriate account in 2012 to write off actual bad debts? $10,000. $36,000. $16,000 $26,000. 2 pts D Question 24 On February 1, 2012, Henson Company factored receivables with a carrying amount of $500,000 to Agee Company. Agee Company assesses a finance charge of 3% of the receivables and retains 5% of the receivables. Relative to this transaction, you are to determine the amount of loss on sale to be reported in the income statement of Henson Company for February Discussions Assume that Henson factors the receivables on a without recourse basis. The loss to be reported is $25.000. $15.000 D$0. $40.000
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