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Business, 15.04.2021 17:50 brookedeanovich

On December 31, 2020, Monty Corp. estimated that 2% of its net accounts receivable of $470,800 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, Monty Corp. determined that the Jeff Shoemaker account was uncollectible and written off $2,354. On June 12, 2021, Shoemaker paid the amount previously written off.

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On December 31, 2020, Monty Corp. estimated that 2% of its net accounts receivable of $470,800 will...
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