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The Larkin Company uses the allowance method to account for uncollectible accounts. Management became convinced that a $16,000 account receivable was uncollectible and should be
The Larkin Company uses the allowance method to account for uncollectible accounts. Management became convinced that a $16,000 account receivable was uncollectible and should be written-off. Just prior to the write-off, total accounts receivable were S260 000 and the Alo ance for collectible Accounts had acredit balance of Tao After Larkin writes off the $16,000 uncollectible account, the net realizable value of accounts receivable will be: A 241000 OB.247000 C. 225000 O D. 244000
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