Business, 21.04.2020 22:21 Horiizon93

Mary had net sales (all on account) in 2020 of $700000. At December 31, 2020, before adjusting entries, the balances in selected accounts were: accounts receivable $980000 debit, and allowance for doubtful accounts $1800 debit. Mary estimates that 2% of its accounts receivable will prove to be uncollectible. What is the net amount expected to be collected of the receivables reported on the financial statements at December 31, 2020?

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Mary had net sales (all on account) in 2020 of $700000. At December 31, 2020, before adjusting entri...