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a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad
a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. c. Determine the net realizable value of accounts receivable. x Feedback 7 Check My Work b. Under the percent of sales method, the amount of the adjustment is the amount estimated for Bad Debt Expense. c. Remember that net realizable value is the amount that is expected to be collected or realized. Note receivable Prefix Supply Company received a 120 -day, 10% note for $48,000, dated April 12 from a customer on account. Assume 360 -days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note. Feedback Check My Work The due date is the date the note is to be paid. Assume a 360 day year. The maturity value is the amount that must be paid at the due date of the
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