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On June 2, 2021, Juan's TV Sales sold Mark a large HD TV on account for $12,000. Juan's TV Sales uses the accrual method. In
On June 2, 2021, Juan's TV Sales sold Mark a large HD TV on account for $12,000. Juan's TV Sales uses the accrual method. In 2022, when the balance on the account w $8,000, Mark filed for bankruptcy. Juan was notified that he could not expect to receive any of the amount owed to him. In 2023 final settlement was made and Juan received $1,000. How much bad debt loss can Juan deduct in 2023
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
4th Edition
1119607515, 978-1119607519
