On 12/15/18 Stand-N-Surf Inc. sold 325,000 surfboards at a selling price of $1,000 per surfboard. The 325,000 surfboards were sold to REI Sporting Goods. The terms of the sale were 1.5%/10, net/30. Stand-N-Surf Inc. records their sales using the gross method.

Prepare the journal entry to record the sale of 325,000 surfboards.

REI Sporting Goods paid Stand-N-Surf the full amount owed on 12/21/18. Prepare the journal entry to record Stand-N-Surf Inc. receipt of payment from REI Sporting Goods.

Stand-N-Surf Inc. total annual sales in 2018 were $1.5 billion. The accounting staff at Stand-N-Surf Inc. has determined that the Allowance for Doubtful Accounts balance at year-end should be 2% of annual sales. The year-end balance of Accounts Receivable and Allowance for Doubtful Accounts (prior to any adjustments) are as follows:

Prepare the adjusting journal entry that Stand-N-Surf Inc. needs to record to reflect the allowance balance necessary at year-end.

What is the NET Accounts Receivable balance at year-end?