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Please solve questions 3,4,5 Coolwear Inc. had a balance of Allowance for Uncollectible Accounts of $1, 100. During 2015, Coolwear wrote off $800 in accounts
Please solve questions 3,4,5
Coolwear Inc. had a balance of Allowance for Uncollectible Accounts of $1, 100. During 2015, Coolwear wrote off $800 in accounts receivable and determined that the Allowance for doubtful accounts should be 5% of its Accounts Receivable balance of $48,000. Determine the Bad Debts Expense for 2015. Lindsey Corp. reported the following balances at the end of the year: Credit Sales: $195,000 Accounts Receivable: 39,000 Allowance for Uncollectible Accounts before adjustment: 1, 300 debit Lindsey Corp. estimates that 6% of the credit sales are uncollectible. After the year-end adjustment, what is the Net Realizable Value of Accounts Receivable? Beverage International reports net credit sales for the year of $559,000. The company's accounts receivable balance at the beginning of the year equaled $38,000 and the balance at the end of the year equaled $48,000. What is Average Number of Days' Sales in Accounts Receivables. Assume there are 365 days a year, and round your answer to the nearest whole numberStep by Step Solution
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