Please Answer with a T account Gobble Corp. reported the following information on its 12/31/Year...
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Accounting
Please Answer with a T account Gobble Corp. reported the following information on its Year balance sheet:
Accounts Receivable net of allowance for doubtful accounts of $ $
During Year Gobble recorded sales on account of $ In July, it wrote off a long outstanding AR balance which totaled $ At Year Accounts Receivable totaled $ Gobble uses the percentage of receivables approach to estimate its allowance balance and determined that was an appropriate balance.
How much cash was collected from customers in Year
A $
B $
C $
D $
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