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ice 9.. I NEED 4A and 5A solved p375 PE 8-4A Analysis of receivables method OBJ. 4 At the end of the current year, Accounts
ice 9.. I NEED 4A and 5A solved
p375 PE 8-4A Analysis of receivables method OBJ. 4 At the end of the current year, Accounts Receivable has a balance of $1,975,000; Allowance for Doubtful Accounts has a credit balance of $19,670; and sales for the year total $28,550,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $225,000. Determine (a) the amount of the adjusting entry for uncollectible accounts; (b) the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and (c) the net realizable value of accounts receivable. Analysis of receivables method PE 8-48 At the end of the current year, Accounts Receivable has a balance of $3,460,000; Allow- ance for Doubtful Accounts has a debit balance of $12,500; and sales for the year total $46,300,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $245,000. OBJ.4 375 Determine (a) the amount of the adjusting entry for uncollectible accounts; (b) the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and (c the net realizable value of accounts receivable. 379 PE 8-5A Note receivable OBJ.6 Guzman Company received a 60-day, 5% note for $54,000 dated July 12 froma customer on account. a. Determine the due date of the note. b. Determine the maturity value of the note. c. Journalize the entry to record the receipt of the payment of the note at maturityStep by Step Solution
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