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Please show your work, and thank you for your help. O'Tole Co. reports assigned accounts receivable of $190,000 that relate to an unpaid note payable

image text in transcribedimage text in transcribedPlease show your work, and thank you for your help.

O'Tole Co. reports assigned accounts receivable of $190,000 that relate to an unpaid note payable of $75,000. Correct balance sheet disclosure is Current assets: Accounts receivable assigned $190,000 Less: Note payable (75,000). Net realizable receivable assigned $115,000 Current assets: Net realizable receivable assigned $115,000 Current liabilities: Note payable $75,000 Less: Accounts receivable assigned (75,000). $-0- Current assets: Equity in accounts receivable $115,000 assigned Current assets: Accounts receivable assigned $190,000 Current liabilities: Note payable $75,000 Wholesale Stuff, Inc. sells to retailers on account. Sales for the year totaled $9,900,000. The company uses the aging method for determining bad debt expense. The aging report and related information includes: Time Outstanding

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