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(b) Westrac Ltd. uses the Allowance method to account for their uncollectible receivables and uses the AGING method to estimate their bad debts. The aging
(b) Westrac Ltd. uses the Allowance method to account for their uncollectible receivables and uses the AGING method to estimate their bad debts. The aging schedule calculates $42,000 will be uncollectible. The AFDA has a $8,000 debit unadjusted balance at year end. Accts receivable at year end is $770,000. (1) Determine the adjusted balances for bad debts expense. (3 pts) (i) Determine the adjusted balance for the AFDA. (3 pts) (iii) Determine the net realizable value of accounts receivables. (3 pt)
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