Van Dijk Corporation estimates the allowance for uncollectible accounts at 3% of the balance of accounts receivable.
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Question:
Van Dijk Corporation estimates the allowance for uncollectible accounts at 3% of the balance of accounts receivable. During 2020, Van Dijk wrote off $89,300 of accounts receivable and collected $23,770 on accounts previously written off. Bad debt expense for 2020 was $169,000. The balance in accounts receivable was $7,280,000 at 12/31/2020. What was the balance in accounts receivable at 1/1/2020?
Multiple Choice
$6,807,660
$5,250,961
$4,623,333
$3,831,000
Which of the following is different in terms of its effect on par value per share?
Multiple Choice
Stock splits
Stock repurchases
Stock issuances
Stock dividend
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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