Cornelius Company had the following info in 2012: Accounts Receivable 12/31/12.....14,000 Allowance for uncollectible account 12/31/12......600 (before

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Cornelius Company had the following info in 2012:

Accounts Receivable 12/31/12.....14,000

Allowance for uncollectible account 12/31/12......600

(before adjustment)

Credit sales during 2012........ 44,000

Cash sales during 2012........ 12,000

Collections from customers on account during 2012........ 46,0000

Un-collectible accounts are determined by the percent-of-sales method to be 4% of credit sales. How much is uncollectible-account expense for 2012?

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Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Posted Date: Aug 16, 2018 04:20 AM

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Cornelius Company had the following info in 2012: Accounts Receivable 12/31/12.....14,000 Allowance for uncollectible account 12/31/12......600 (before

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Intermediate Accounting

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