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At the beginning of the current period, Kingbird, Inc. had balances in Accounts Receivable of $240,000 and in Allowance for Doubtful Accounts of $10,800. During
At the beginning of the current period, Kingbird, Inc. had balances in Accounts Receivable of $240,000 and in Allowance for Doubtful Accounts of $10,800. During the period, it had net credit sales of $960,000 and collections of $915,600. It wrote off as uncollectible accounts receivable of $8,760. Uncollectible accounts are estimated to total $30,000 at the end of the period. (Omit recording cost of goods sold.) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).) Ending balance in Accounts Receivable $ Ending balance in Allowance for Doubtful Accounts $ Attempts: 0 of 10 used (e) What is the net realizable value of the receivables at the end of the period? The net realizable value of the receivables at the end of the period
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