Question: Antonio Galvan an attorney uses the allowance method to account

Antonio Galvan, an attorney, uses the allowance method to account for uncollectible receivables. On August 31, Galvan’s accounts receivable were $8,000. During September, he earned service revenue of $20,000 on account and collected $22,000 from clients on account. He also wrote off uncollectible receivables of $2,000. What is Galvan’s balance of Accounts Receivable on September 30? Does he expect to collect this entire amount? Why or why not?

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  • CreatedJuly 08, 2015
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