SURVEY OF ACCOUNTING-ACCESS
SURVEY OF ACCOUNTING-ACCESS
4th Edition
ISBN: 9780077631536
Author: Thomas Edmonds
Publisher: McGraw-Hill Education
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Chapter 6, Problem 32P

a.

To determine

Calculate the amount of goodwill purchased.

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Subject: general accounting question
General Accounting
Lakeshore Retailers estimates bad debts as 2% of net sales but is switching to the aging method, which indicates 6% of overdue accounts are uncollectible. If total accounts receivable is $150,000, with $40,000 overdue, compute bad debt under both methods.

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SURVEY OF ACCOUNTING-ACCESS

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