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Compute realizable value of accounts receivable on january

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On December 31 of Swift Co.'s first year, $53,000 of accounts receivable is not yet collected. Swift estimates that $2,300 of its accounts receivable is uncollectible and records the year-end adjusting entry.

Problem (1) Compute the realizable value of accounts receivable reported on Swift's year-end balance sheet.

Problem (2) On January 1 of Swift's second year, it writes off a customer's account for $300. Compute the realizable value of accounts receivable on January 1 after the write-off.

Reference no: EM132776351

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