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Please show work on a Horizontal Balance Sheet. In Year 1, Simpson Company earned $10,000 of revenue on account. Cash collections of accounts receivable amounted
Please show work on a Horizontal Balance Sheet.
In Year 1, Simpson Company earned $10,000 of revenue on account. Cash collections of accounts receivable amounted to $8,000. The Company estimated uncollectible accounts to be 10% of revenue. Simpson wrote-off $900 of uncollectible accounts during Year 1, Assuming the company uses the allowance method to account for uncollectible accounts, the amount of cash flow from operating activities on the Year 1 statement of cash flows is Click the answer you think is right. $9,100 $8,000. $10,000. $7,100 $1,000 PLEASE SHOW WORK (preferably on a horizontal balance sheet) Do you know the answer? Read about this I know it Think so Unsure No ideaStep by Step Solution
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