Question: Please only answer the question below if you know the correct answer. if you answer if incorrect or irelevant, I will report to chegg and
Information related to accounts receivable is given: Mobile Technology Ltd, reported an unadjusted balance of accounts recelvable of $1,275,000 at 31 December 203, along with a credit balance in the allowance for doubtul accounts of $84,200 and an allowance for sales discounts of $7,100. At year-end, the company determined that an allowance of $17.000 for sales discounts was needed, it also decided that $55,600 of accounts recelvable were uncollectible and should be written off. Of the remaining recelvobles, it was determined that 35% were current, and of the remaining net current balance, an allowance for doubtful accounts of 3% of the net balance was needed. The remaining 65% of outstonding accounts recelvable were past due and on allowance for doubtful accounts of 10% of the outstanding balance was needed. Required: For each case above, show how net accounts recelvable would be reported on the statement of financial position, and calculate bad debt expense for the year. (Round your answers to the nearest whole dollar.)
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