Question
On December 31, 2021 Dean Company changed its expectations collection from 90% to 95%. This change caused the 2021 beginning Accounts Receivable balance to
On December 31, 2021 Dean Company changed its expectations collection from 90% to 95%. This change caused the 2021 beginning Accounts Receivable balance to increase by $960,000. The cumulative effect of this accounting change to be reported for the year ended 12/31/21, assuming a 20% tax rate, is 960,000 192,000 768,000
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Cost Accounting Foundations and Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
8th Edition
9781439044612, 1439044619, 978-1111626822
