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Carleton University > BUSI > BUSI 1004 At January 1, 20 * 2, Jamin Co. had a c... Question Ask a new Question 8. At January 1, 20x2, Jamin Co. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based on past experience, 2% of Jamin's credit sales have been uncollectible. During 20x2, Jamin wrote off $325,000 of uncollectible accounts. Credit sales for 20x2 were $9 million. In its December.31, 20x2 balance sheet, what amount should Jamin report as allowance for uncollectible accounts? a. $440,000 b. $115,00 $245,000 d. $180,000 C. Uploaded by: viviannguyen3 Report Subject: Business

Carleton University > BUSI > BUSI 1004 At January 1, 20 * 2, Jamin Co. had a c... Question Ask a new Question 8. At January 1, 20x2, Jamin Co. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based on past experience, 2% of Jamin's credit sales have been uncollectible. During 20x2, Jamin wrote off $325,000 of uncollectible accounts. Credit sales for 20x2 were $9 million. In its December.31, 20x2 balance sheet, what amount should Jamin report as allowance for uncollectible accounts? a. $440,000 b. $115,00 $245,000 d. $180,000 C. Uploaded by: viviannguyen3 Report Subject: Business

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Carleton University > BUSI > BUSI 1004 At January 1, 20 * 2, Jamin Co. had a c... Question Ask a new Question 8. At January 1, 20x2, Jamin Co. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based on past experience, 2% of Jamin's credit sales have been uncollectible. During 20x2, Jamin wrote off $325,000 of uncollectible accounts. Credit sales for 20x2 were $9 million. In its December.31, 20x2 balance sheet, what amount should Jamin report as allowance for uncollectible accounts? a. $440,000 b. $115,00 $245,000 d. $180,000 C. Uploaded by: viviannguyen3 Report Subject: Business
Transcribed Image Text:Carleton University > BUSI > BUSI 1004 At January 1, 20 * 2, Jamin Co. had a c... Question Ask a new Question 8. At January 1, 20x2, Jamin Co. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based on past experience, 2% of Jamin's credit sales have been uncollectible. During 20x2, Jamin wrote off $325,000 of uncollectible accounts. Credit sales for 20x2 were $9 million. In its December.31, 20x2 balance sheet, what amount should Jamin report as allowance for uncollectible accounts? a. $440,000 b. $115,00 $245,000 d. $180,000 C. Uploaded by: viviannguyen3 Report Subject: Business
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