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What Did the Spanish Discover at Potosí in the Sixteenth

question 8

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What did the Spanish discover at Potosí in the sixteenth century?

Understand how to journalize transactions related to notes receivable and calculate interest revenue.
Learn how to account for bad debt expense and understand the effect of write-offs on the cash realizable value of accounts receivable.
Grasp the procedures for recording transactions involving sales on account, returns, and related interest accruals.
Calculate and understand the impact of bad debt expense based on percentage estimates of net credit sales or accounts receivable balances.

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