Question
Apple Merchandising had net sales in 2011 of JPY700,000. At December 31, 2011, before adjusting entries, the balances in selected accounts were: accounts receivable JPY125,000
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Apple Merchandising had net sales in 2011 of JPY700,000. At December 31, 2011, before adjusting entries, the balances in selected accounts were: accounts receivable JPY125,000 debit, and allowance for doubtful accounts JPY1,200 credit. Cong Son estimates that 2% of its net sales will prove to be uncollectable. What is the cash realizable value of the receivables reported on the statement of financial position at December 31, 2012?
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Cengage Learnings Online General Ledger For Heintz/parrys College Accounting, 2, 2 Terms (12 Months)
Authors: James A. Heintz, Robert W. Parry
22nd Edition
1305669991, 9781305669994
