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Woodstock Co. had $500 of credit card sales. The net cash receipts were deposited Lani Co. uses the allowance method to account for bad debts.

Woodstock Co. had $500 of credit card sales. The net cash receipts were deposited
Lani Co. uses the allowance method to account for bad debts. At the end of 2010, their unadjusted trial balance shows an accounts receivable balance of $400,000.00

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