Question
On November 30, 2020, Marg's Antiques sold a mint condition vintage stove for $89429. The company paid $27978 for the stove at an auction. The
On November 30, 2020, Marg's Antiques sold a mint condition vintage stove for $89429. The company paid $27978 for the stove at an auction. The buyer has agreed to pay for the stove in 4 instalments every December 31 in 2021, 2022, 2023 and 2024.
Calculate the amount that Marg's Antiques can deduct as a reserve for unpaid ammounts in 2022.
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
