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Purple Inc. has provided the following information pertaining to its operations in 2018: Net income, $200,000 Accounts receivable increased $4,000 Loss on sale of land,
Purple Inc. has provided the following information pertaining to its operations in 2018: Net income, $200,000 Accounts receivable increased $4,000 Loss on sale of land, $3,000 Wages payable decreased $6,000 Depreciation expense was $25,000 1 . Using the indirect method, how much was Purple's net cash provided by operating activities? Gold Inc. has provided the following information prior to the year-end bad debt adjustment: Credit sales, $560,000 Selling and administrative expenses, $80,000 Sales returns and allowances, $45,000 Gross profit, $445,000 Accounts receivable, $210,000 Sales discounts, $20,000 Allowance for doubtful accounts credit balance, $4,000 Gold estimates bad debt expense assuming that 2.5% of credit sales have historically been uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded
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