Complete the table to determine the Baddebt Expenses for the period. Villanueva, Inc. is a supplier of
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Complete the table to determine the Baddebt Expenses for the period.
Villanueva, Inc. is a supplier of supplies. The following is the status of accounts receivable ("Aging")
Maturity Intervals | Balance | Percent | Amount |
Non pastdue | 345,000.00 | 2% | |
1- 30 days | 96,000.00 | 4% | |
31-60 days | 27,000.00 | 9% | |
61-90 days | 22,000.00 | 15% | |
91-180 days | 7,300.00 | 60% | |
Over180 days | 5,500.00 | 85% | |
Totals |
Assuming a credit balance of $3,050.00 on the counter account. (Allowancefordoubtfulaccounts.) How much should we affect the account? Determine the net realizable value after adjustment. Prepare the entries for the period adjustment.
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
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