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Business, 31.03.2020 01:51 ranamontana98

On December 31, 2020, Whispering Winds Corp. estimated that 3% of its net accounts receivable of $408,000 will become uncollectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. The allowance account had a zero balance before adjustment on December 31, 2020. On May 11, 2021, Whispering Winds Corp. determined that the Jeff Shoemaker account was uncollectible and wrote off $2,040. On June 12, 2021, Shoemaker paid the amount previously written off.

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On December 31, 2020, Whispering Winds Corp. estimated that 3% of its net accounts receivable of $40...
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