What the net income would have been if the allowance method

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During its first year of operations a company had net sales of $3,250,000, wrote off $27,800 of accounts as uncollectible using direct write-off method, and reported net income of $487,500.

Determine what the net income would have been if the allowance method had been used, and the company estimated that 1% of the net sales would be uncollectible.

Reference no: EM13823154

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