Question: Which one is the correct answer? Dynamic, incorporated had credit sales of $670,000 for March. Accounts receivable of $8,500 were determined to be worthless and
Which one is the correct answer?
Dynamic, incorporated had credit sales of $670,000 for March. Accounts receivable of $8,500 were determined to be worthless and were written off during March. Accounts receivable total $521,000 at March 31. Manngement feets that based on past experience, opprovimately 2%6 of net credit sales will prove to be uncollectible. Assuming Dynamic, Incorporated uses the income statement approach (an allowance method) to account for uncollectible accounts. impairment loss for March is: Mutriple Choice 510,420 $18920 $21900 51300
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