Question
An aging analysis of Trucker Company's accounts receivable at December 31 2015 showed the following... AR: 350,000.00 DEBIT ALLOWANCE FOR BAD DEBT BEFORE ADJUSTMENT: 15,000.00
An aging analysis of Trucker Company's accounts receivable at December 31 2015 showed the following...
AR: 350,000.00 DEBIT
ALLOWANCE FOR BAD DEBT BEFORE ADJUSTMENT: 15,000.00 CREDIT
ACCTS DEEMED UNCOLLECTABLE: 32,000.00
Sales returns and allowances are estimated at 3% of the gross A/R balance. What is the net realizable value of the A/R of Trucker company for December 31 2015
a) 307,500.00
b) 303,000.00
c) 292,500.00
d) 324,500.00
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
111950242X, 1-119-50242-5, 978-1119502425
