Snipe Corp. had $5,430,000 of sales in 2023, all on account. On December 31, 2023, the company
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Snipe Corp. had $5,430,000 of sales in 2023, all on account. On December 31, 2023, the company reported a debit balance in accounts receivable of $16,426,000 and a debit balance in allowance for bad debt of $19,010. If the management team believes that 4% of accounts receivable will be uncollectible and if no adjusting entries have yet been made, how much should Snipe Corp. report as their net A/R on their balance sheet for 2023?
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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