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Upon review of the receivables at year end, management has indicted that a specific customer has gone bankrupt and won't be paying the $15,000 that
Upon review of the receivables at year end, management has indicted that a specific customer has gone bankrupt and won't be paying the $15,000 that they owe. A further $25,000 of the remaining receivables (not counting the sale described in b) will probably not be collected either. (Normally ABC only reviews their outstanding receivables at year end)
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