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(Solution) - At December 31 2012 the Accounts receivable balance of GPS

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At December 31, 2012, the Accounts receivable balance of GPS Technology is $190,000. The Allowance for doubtful accounts has an $8,600 credit balance. GPS Technology prepares the following aging schedule for its accounts receivable:

1. Journalize the year-end adjusting entry for doubtful accounts on the basis of the aging schedule. Show the T-account for the Allowance for uncollectible accounts at December 31, 2012. 2. Show how GPS Technology will report its net Accounts receivable on its December 31, 2012 balancesheet.


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This question was answered on: Jul 11, 2017

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