Sunny Industries reports its accounts receivable on the balance sheet. The gross receivable balance is $42,000, and the allowance for uncollectible accounts is estimated at 15% of gross receivables. At what amount will accounts receivable be reported on the balance sheet?

Sunny Industries reports its accounts receivable on the balance sheet. The gross receivable balance is $42,000, and the allowance for uncollectible accounts is estimated at 15% of gross receivables. At what amount will accounts receivable be reported on the balance sheet?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 1CE

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