Blackhawk Corporation estimates that $30,000 of their accounts made on sale is uncollectible for the...
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Accounting
Blackhawk Corporation estimates that $30,000 of their accounts made on sale is uncollectible for the current accounting period. How would the $30,000 be reported in Blackhawk Corporation's financial statements?
a. Recognition of an uncollectible account expense in operating expenses on the income statement
b. Recognition of a loss in non-operating items on the income statement
c. Recognition of a liability in the current liability section of the balance sheet
d. no recognition is necessary
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