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$40,660 amount listed in the Internal Document for accounts
receivable reflects the total amount of Associates PC's accounts
receivable, and that no increase should be made for the $42,675
in accounts receivable billed by Hanna PC. No credible evidence
supports Hanna PC's argument.
Alternatively, Hanna PC argues that the $63,730 amount for
accounts receivable determined by respondent should be further
reduced for uncollectible accounts receivable of $18,805 and for
accounts receivable of $1,120 relating to services performed by
Hanna PC after the transfer. These reductions would result in an
amount of $43,805 for accounts receivable. The $18,805 reduction
for uncollectible accounts receivable sought by Hanna PC has
already been made by respondent when he reduced the amount of the
accounts receivable by $19,605 for uncollectible accounts
receivable. No further reduction is appropriate. The $1,120
reduction that Hanna PC seeks relating to services performed by
Hanna PC is not supported by the evidence.
Based on the evidence, we conclude that Associates PC's
accounts receivable should reflect an amount of $63,730 as of the
transfer date.
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Last modified: May 25, 2011