Question
Before recording any adjusting entries, Ajax the Lessor Inc reports the following information on its Unadjusted Trial Balance (as of 12/31/2019): Account Debit Credit Accounts
Before recording any adjusting entries, Ajax the Lessor Inc reports the following information on its Unadjusted Trial Balance (as of 12/31/2019):
| Account | Debit | Credit |
| Accounts Receivable | 18,500 |
|
| Allowance for Doubtful Accounts |
| 280 |
| Sales (all credit sales) |
| 116,000 |
Ajax the Lessor Inc. uses the Percentage of Credit Sales method and estimates that 1% of credit sales are uncollectible. What is the Net Realizable Value of Accounts Receivable that will be reported on the companys balance sheet as of 12/31/19?
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Horngrens Accounting, The Managerial Chapters
Authors: Tracie Miller Nobles, Brenda Mattison
13th Edition
0135982138, 9780135982136
