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Author Question: Charmed Inc. has an Account Receivable balance of $27,500 and its Allowance for Uncollectible ... (Read 333 times)

mspears3

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on: Feb 18, 2020
Charmed Inc. has an Account Receivable balance of $27,500 and its Allowance for Uncollectible Accounts balance is $1,250. How will this be reported on the Balance Sheet?
◦
Accounts Receivable, Net of Allowance for Uncollectible Accounts of $1,250$26,250​

◦
Accounts Receivable$26,250

◦
Accounts Receivable27,500
Less: Allowance for Uncollectible Accounts 1,250
Accounts Receivable, Net$26,250

◦ Both A and C are acceptable ways to report Accounts Receivable.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by mspears3 on Feb 18, 2020

dpost18

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Reply #1 on: Feb 18, 2020
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