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5. Notstead Company had an accounts receivable of $50,000 and an allowance for doubtful accounts balance of $1,500 just prior to writing off as an
5. Notstead Company had an accounts receivable of $50,000 and an allowance for doubtful accounts balance of $1,500 just prior to writing off as an account receivable for Kefferson Company of $300. The net realizable value of accounts receivable before the write-off is = and after the write-off is = 6. If the Allowance for Doubtful Accounts prior to making the end-of-period adjusting entry to estimate bad debts had a debit balance it means that the company.......? 7. Which of the following does not reduce the balance in accounts receivable? Sales returns Collections from customers Recognizing bad debts expense Write-offs More than one of the above reduces the balance in accounts receivable 8. The Town Company has provided the following information: The allowance for doubtful accounts balance at the beginning of the year was $16,000 (credit). The allowance for doubtful accounts balance at the end of the year was $11,250 (credit) after recording bad debt expense of 9,000. The accounts receivable balance at the beginning of the year was $275,000. The accounts receivable balance at the end of the year was $410,000. Credit sales during the year totaled $900,000. What was the amount of Accounts receivable written off during the year
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