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Horton Industries reported net income of $150,000 for the current year. The balances in its accounts ...

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Horton Industries reported net income of $150,000 for the current year. The balances in its accounts ...

Horton Industries reported net income of $150,000 for the current year. The balances in its accounts receivable and allowance for bad debts accounts are shown below:

Account 12/31/20171/1/2017
Accounts Receivable52,00045,000
Allowance for Uncollectible Accounts10,0007,000

In addition, the company recorded $11,000 of bad debt expense and wrote off $5,500 of uncollectible accounts. There are no other relevant transactions or account balances. Prepare the operating section of the cash flow statement.

Textbook

Intermediate Accounting

Edition: 1^st

Authors: Gordon, Raedy, Sannella

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More solutions for this book are available here

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Good timing, thanks!

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This helped my grade so much Perfect

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