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Sunland Company prepared an aging of its accounts receivable at December 31, 2017 and determined that the net realizable value of the receivables was $905000.
Sunland Company prepared an aging of its accounts receivable at December 31, 2017 and determined that the net realizable value of the receivables was $905000. Additional information is available as follows: Allowance for uncollectible accounts at 1/1/17-credit $102500 'balance Accounts written off as uncollectible during 2017 Accounts receivable at 12/31/17 Uncollectible accounts recovered during 2017 70000 968000 14500 For the year ended December 31, 2017, Sunland's bad debt expense would be $63000. O $70000. $16000. $47000. Transactions for the month of June were: Sales Purchases 2480@ $5.60 (balance) 3150@ $3.30 June 2 June 1 6390@ 5.60 8730@ 3.20 6 3 4000@ 5.60 7 4820@ 3.40 1520@ 6 10 7130@ 3.50 15 18 5590@ 6 2080@ 3.60 22 830 @ 6 25 Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is $18058. e $17349. $17251 $17051
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