On December 3 1 , 2 0 X 1 , certain account balances at Galaxy Company were
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Question:
On December X certain account balances at Galaxy Company were as follows before yearend adjustments:
Accounts Receivable $
Allowance for Uncollectible Accounts credit
Sales
Sales Returns and Allowances
A further examination of the records showed that the "Sales" included $ of cash sales during the year. Of the sales returns and allowances, $ came from credit sales. Assume that Galaxy Company estimates its losses from uncollectible accounts to be percent of net credit sales.
Required:
what is the estimated income?
Related Book For
Posted Date: