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Intermediate Accounting

11. XYZ Company reported Accounts Receivable balance of OMR 12,857 and Allowance for Doubtful Accounts balance of OMR 1,200 on December 31, 2020 before adjustment. XYZ estimated that 15% of its Accounts receivable will not be collectible. What is the adjusting journal entry on December 31, 2020?

12. XYZ Company reported Accounts Receivable balance of OMR 12,857 and Allowance for Doubtful Accounts balance of OMR 1,200 on December 31, 2020 before adjustment. XYZ estimated that 15% of its Accounts receivable will not be collectible. How much is the bad debts expense to be recorded on December 31, 2020 after adjustment?

13. XYZ Company reported Accounts Receivable balance of OMR 12,857 and Allowance for Doubtful Accounts balance of OMR 1,200 on December 31, 2020 before adjustment. XYZ estimated that 15% of its Accounts receivable will not be collectible. How much is the Net Realizable Value of Accounts Receivable on December 31, 2020 after adjustment?

14. FBG Company reported Accounts Receivable balance of OMR 15,857 and Allowance for Doubtful Accounts balance of OMR 1,100 on December 31, 2020 before adjustment. FGB made an Aging of its accounts with the following categories: Less than 10 days, OMR 5,000 at 5%; 11 to 25 days, OMR 7,000 at 10% and the balance of OMR 3,000 is more than 26 days at 25%. How much is the bad debts expense to be recorded on December 31, 2020?

15. FBG Company reported Accounts Receivable balance of OMR 15,857 and Allowance for Doubtful Accounts balance of OMR 1,100 on December 31, 2020 before adjustment. FGB made an Aging of its accounts with the following categories: Less than 10 days, OMR 5,000 at 5%; 11 to 25 days, OMR 7,000 at 10% and the balance of OMR 3,000 is more than 26 days at 25%. How much is the Net Realizable Value of Accounts Receivable on December 31, 2020 after adjustment?