Turner Company has just written off a $200 account as being uncollectible. Prior to the...
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Accounting
Turner Company has just written off a $200 account as being uncollectible. Prior to the write-off, Turners net accounts receivable was $145,000 (made up of gross receivables totaling $146,000 and an allowance for bad debts totaling $1,000).
a. What is Turners net accounts receivable balance after the write-off? Show any necessary computations.
b. What is the dollar amount of the effect of the write-off on Turners net income? Show any necessary computations.
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