. On Januaryt Year 4. Fox Company had a $70,000 balance in its Accounts Receivable...
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Accounting
. On Januaryt Year 4. Fox Company had a $70,000 balance in its Accounts Receivable account and a $1.000 balance in its Allowance for Doubtful Accounts account . During Year 4. Fox Sold $400,000 of merchandise on account and collected $410,000 cash from accounts receivable Fox uses the percentage of receivables method of estimating uncollectible accounts and believes that 48 is an appropriate estimate The amount of Uncollectible Accounts Expense to be shown on Fox's Year 4 Income Statement is Multiple Choice 52.000 $2.400 51400 52.760 $5300
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