McKinley Companys Accounts Receivable balance at December 31 was $400,000, and there was a debit...
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Accounting
McKinley Companys Accounts Receivable balance at December 31 was $400,000, and there was a debit balance of $2,400 in the Allowance for Doubtful Accounts. McKinley estimates that 3% of the Accounts Receivable will prove to be uncollectible. After the appropriate adjusting entry is made for credit losses, what is the net amount of accounts receivable included in the current assets at year-end?
Select one:
A. $360,000
B. $388,000
C. $351,600
D. $346,800
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