TAXATION OF INDIV.+BUS. ENTITIES 2020 L
11th Edition
ISBN: 9781264012619
Author: SPILKER
Publisher: MCG
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Please provide the accurate answer to this general accounting problem using valid techniques.
Thompson, Inc. had accounts receivable of $580,000 and an allowance for doubtful accounts of $23,400 just before writing off as worthless an account receivable from Sullivan Company of $2,750. The net realizable value of the accounts receivable before and after the write-off was: A. $556,600 before and $556,600 after. B. $603,400 before and $600,650 after. C. $556,600 before and $553,850 after. D. $580,000 before and $577,250 after.
Determine the dollar amount of finished goods inventory
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