Business, 26.03.2022 15:50 tytybruce2
At the beginning of Year 3 Omega Company had a $60,000 balance in its accounts receivable account and a $3,000 balance in allowance for doubtful accounts. During Year 3, Omega experienced the following events. (1) Omega earned $200,000 of revenue on account (2) Collected $210,000 cash from accounts receivable (3) Wrote-off $2,000 of accounts receivable as uncollectible Omega estimates uncollectible accounts to be 4% of receivables. Based on this information, the December 31, Year 3 unadjusted (current) balance in allowance for doubtful accounts account (balance before expense recognition) is:
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Business, 22.06.2019 11:30, barn01
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At the beginning of Year 3 Omega Company had a $60,000 balance in its accounts receivable account an...
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