Using the data in Exercise 9-15, assume that during the second year of operations West Plumbing Supply
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a. Determine what net income would have been in the second year if the allowance method (using 3% of net sales) had been used in both the first and second years.
b. Determine what the balance of the allowance for doubtful accounts would have been at the end of the second year if the allowance method had been used in both the first and second years.
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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