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Bri Enrolled - STI Colle x 04_Quiz_1(4).pdf x 04_Handout_1(6).p x & docx-4.docx | Cher x @ Net Realizable Val X * Course Hero Messenger X + X O https://$3.amazonaws.com/$3.edu20.org/files/5874568/04_Quiz_1%284%29.pdf?X-Amz-Algorithm=AWS4-HMA... G 1 of 3 + 2 | A) Read aloud | Draw V Highlight v Erase The following information pertains to Leorio, Inc. for the year ended December 31, 201C: Credit sales during 201C P8,900,000 Collection of accounts written off in prior periods 340,000 Worthless accounts written off in 2010 382,000 Allowance for doubtful accounts, January 1, 201C 310,000 Leorio, Inc. provides for doubtful accounts based on 1 /2% of credit sales. 5. What is the balance of allowance for doubtful accounts at December 31, 201C? Netero Company's analysis and aging of its accounts receivable at December 31, 201A disclosed the following: 04 Quiz 1 *Property of STI Page 1 of 3 ASTI BM2008 Accounts receivable P1, 150,000 Accounts estimated to be uncollectible (per aging 237,500 Allowance for doubtful accounts (per books) 259,000 Type here to search 199+ ^ 0 " ) ENG 9:42 pm 26/10/2020 E3Bri Enrolled - STI Colle x 04_Quiz_1(4).pdf x 04_Handout_1(6).p x & docx-4.docx | Cher x | Net Realizable Vall X * Course Hero Messenger X + X O https://$3.amazonaws.com/$3.edu20.org/files/5874568/04_Quiz_1%284%29.pdf?X-Amz-Algorithm=AWS4-HMA... G 2 of 3 + | A) Read aloud | Draw V Highlight V Erase 6. What is the net realizable value of Netero's receivables at December 31, 201A? The following accounts are shown on the 201B and 201A financial statements of Kite Company: 201B 201A Accounts receivable ? P470,000 Allowance for doubtful accounts P20,000 10,000 Net Sales 2,600,000 2,400,000 Cost of goods sold 00,000 1,752,000 Kite's accounts receivable turnover for 201B is 6.5 times. 7. What are the accounts receivable balance on December 31, 201B? The policy of Biskey, Inc. is to add bad debt expense for 3% of all new sales. The following are the company's sales and allowance for doubtful accounts for the past four (4) years: Year Sales Allowance for Doubtful Accounts Year-End Balance 201A P3,000,000 45,000 201B 2,950,000 56,000 201C 3,120,000 60,000 201D 2,420,000 75,000 What are the amounts of accounts written off in 201B, 201C, and 201D? 8. 201B 9. 201C 10. 201D Type here to search m 199+ W ^ 0" ()ENG 9:42 pm .69 26/10/2020 E3