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Total sales in year 2016 is 500000 onehalf of which is sales on account. The beginning amount of sales returns allowance and gross accounts receivable
Total sales in year 2016 is 500000 onehalf of which is sales on account. The beginning amount of sales returns allowance and gross accounts receivable are $25,000 and $800,000 respectively , If 1% of all credit sales is expected to be returned, what is the net relalizable value of accounts receivable at the end of year 2016?
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458
