An analysis revealed Accounts Receivable of $350,000, an Allowance for Uncollectibles based on aging of $18,000. what is the net realizable value of accounts receivable?

Which of the following statements about reversing entries is true?

Identical balances eventually result with or without reversing entries

Reversing entries may not be used with accrued revenues.

Reversals are usually for adjusting items that do not involve future cash flow.

All of the above.

None of these.

On December 21, 20X6, Shaw Company accepted from Bogner a $10,000, 90-day, 8% note in lieu of an existing $10,000 account receivable.Shaw Company's fiscal year-end is December 31.What journal entry, if any, should Shaw Company record on December 31, 20X6? (Show work to receive partial credit)

On December 21, 2016, Alpha Company accepted from Bravo a $10,000, 90-day, 8% note in lieu of an existing $10,000 account receivable. Alpha Company's fiscal year-end is December 31.Use this information to prepare for the Alpha Company the General Journal entries (without explanation) for December 21, 2016. If no entry is required then write "No Entry Required."

Conner Corporation's adjusted trial balance included the following items: Accounts payable ($65,000), Accounts receivable ($45,000), Capital stock ($100,000), Cash ($50,000), Dividends ($10,000), Goodwill ($47,000), Interest expense ($4,000), Interest payable ($2,000), Inventory ($32,000), Notes payable ($80,000), Prepaid expenses ($5,000), Property, plant & equipment ($123,000), Retained earnings ($46,000), Rent expense ($18,000), Revenues ($101,000), and Salary expense ($60,000). Which of these accounts would be foundon the income statement?