4) Problem Set #2 Problem #5: Accounts Receivable Presentation (6 points) The following items were taken from the 2023 GAAP financial statements of Leone Horticultural Co.: 1) 2) In the balance sheet: Accounts receivable, net of an allowance of $275,000 In the income statement: Net sales Bad debts expense 12/31/2023 $5,585,000 The net realizable value of the accounts receivable of Leone Horticultural Co. at December 31, 2023 was: Identify the amount of each item below based on the 2023 GAAP financial statements of Leone Horticultural Co. (1 points each = 6 points) Your Answers The estimated amount of 2023 sales that Leone Horticultural Co. expected to collect in 2024 was: 3) The estimated amount of 2023 sales revenue that Leone Horticultural Co. never expected to collect was: Page 16 of 19 2023 $18,642,000 (370,000) 5) The cost of credit sales to Leone Horticultural Co. for 2023 was: The estimated amount of the accounts receivable at December 31, 2023 that Leone Horticultural Co. expected to write off as bad debts during 2024 was: 6) The gross amount of the accounts receivable of Leone Horticultural Co. at December 31, 2023 was:

Problem set w2 Problem \#5: Accounts Receivable Presentation (6 points) The followina itamn warn taken fram the 2023 GAAP financial statements of Leone Horticultural a. Identify the amount of each item below based on the 2023 GAAP financial statements of Leone