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Other disclosures related to receivables are reported a. on the income statement only. either on the face of the financial statements or in the...
16.Other disclosures related to receivables are reported
a. on the income statement only.
b. either on the face of the financial statements or in the financial statement notes.
c. on the face of the financial statements only.
d. in the financial statement notes only.
17.If accounts receivable for Crawford Company is equal to $172,000 and the allowance for doubtful accounts is $4,500 at December 31, what is the amount of net receivables shown on Crawford's balance sheet at December 31?
a. $176,500
b. $167,500
c. $172,000
d. Cannot be determined from the information given
18.To calculate the net receivables to be reported on the balance sheet at year-end,
a. subtract the balance of Bad Debt Expense from Accounts Receivable.
b. add the balance of Allowance for Doubtful Accounts to Accounts Receivable.
c. subtract the balance of Allowance for Doubtful Accounts from Accounts Receivable.
d. add the balance of Bad Debt Expense to Accounts Receivable.
