On January 1, 2023, Lala Norman and Dede McGill decided to form a partnership. Assets of Dede
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Question:
On January 1, 2023, Lala Norman and Dede McGill decided to form a partnership. Assets of Dede includes Accounts Receivable amounting to $18,000 and an Allowance for Doubtful Accounts of $2,000. An independent appraiser determined that the allowance for doubtful accounts should be $3,000. How much should the Accounts Receivable be carried in the new partnership books?
a. $15,000
b. $20,000
c. $18,000
d. $16,000
Related Book For
Financial Accounting with International Financial Reporting Standards
ISBN: 978-1119504306
4th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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