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On January 1, Ross Company had the following (normal) account balances: Accounts Receivable: Allowance for Uncollectible Accounts: $ 61,200 1,860 The bookkeeper, Kim Carter,
On January 1, Ross Company had the following (normal) account balances: Accounts Receivable: Allowance for Uncollectible Accounts: $ 61,200 1,860 The bookkeeper, Kim Carter, has prepared the following information for the year to assist you in creating a balance sheet. Credit Sales for the Year: Collections of Accounts Receivable: Write-off of Bad Debts: Bad Debts Expense for Year: (recorded as an adjusting entry on December 31) Required: $ 201,500 188,240 860 1,030 Prepare the detalled balance sheet presentation of net realizable value. Ross Company Current Assets (partial) December 31 Current Assets:
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
