on August 1, 2017 Trust me has accounts recievable of 10400 and an allowance for doubtful accounts of 25,000. On august 15, trust me writes off a customers account for 9000 deemed uncollectable.

ACCT 201 Case Summer 2017 Page 13 Question 14: On August 1, 2017. Trust Me has accounts receivable of $104 ooo and an allowance for doubtful accounts of $25 ooo. On August 15, Trust Me writes off a customer's account for $9,ooo deemed uncollectible. a. What is the cash (net) realizable value on August 1,2017? b. what account will be debited on August 15 to record the write-off of the customer's account? c. What is the balance in Accounts Receivable immediately after the write off? d. If there are no other changes in Accounts Receivables or the the Allowance for Doubtful Account what is the cash realizable value. immediately after the write-off? d. At year-end (December 31, 2017), Trust Me $930,0oo Sales Returns and Allowances of $41,000, Accounts Receivable of $295,000, and the for Doubtful Accounts debit balance of $2,7oo. It estimates that 3% of net sales will become uncollectible next year. (1) What account will be debited in the adjusting entry? (2) What will be the amount of the adjusting entry? (3) What will be the ending balance in the Allowance for Doubtful Accounts? (4) What will be the net cash realizable value after the adjustmer (5) on what financial statement will each of the following be reported: (a) Bad Debt Expense (b) Allowance for Doubtful Accounts