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Need help with one very small calculation. I have only one attempt left. So please be careful while replying.


* Question 1

 

At the end of 2013, Perez Corporation has accounts receivable of $1.3 million and an allowance

 

for doubtful accounts of $80,000. On January 16, 2014, Perez determined that its $19,000

 

receivable from Morganfield Ltd. will not be collected, and management has authorized its writeoff.

 

On January 31, 2014, Perez received notification that the company will be receiving $0.20 for

 

every $1.00 of accounts receivable relating to McKinley Ltd. The company had previously written

 

off 100% of the amount due from McKinley ($63,000).

 


 

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Paper#9256717 | Written in 27-Jul-2016

Price : $16
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