Solution-Determine the net realizable value of accounts

Determine the net realizable value of accounts receivable

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Reference no: EM132752896

Problem - At the end of the current year, Accounts Receivable has a balance of $4,375,000; Allowance for Doubtful Accounts has a debit balance of $21,300; and sales for the year total $102,480,000. Bad debt expense is estimated at 1/4; of 1% of sales.

Required -

Determine (a) the amount of the adjusting entry for uncollectible accounts.

Determine (b) the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.

Determine (c) the net realizable value of accounts receivable.

Reference no: EM132752896

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Determine the net realizable value of accounts receivable

Reference no: EM132752896

Reference no: EM132752896

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