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Prepare journey entry and net realized value 3. Below are the subledger accounts receivable for Emilio Company: Anthony $ 7,200 Malaya 9,700 Mekhi 18,200 Omari

Prepare journey entry and net realized value

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3. Below are the subledger accounts receivable for Emilio Company: Anthony $ 7,200 Malaya 9,700 Mekhi 18,200 Omari 37,000 Kaytana 900 Total $73,000 There is no balance in the Allowance for Doubtful accounts. Instructions a. Prepare the appropriate journal entries given the following transactions: i. the controller would like you the write off the following accounts as uncollectible: Anthony 7,200 Mekhi. 18,200 Kaytana 900 ii. received payment from Malaya for $2,600 iii. collected $7,200 from the Anthony account iv. write off the balance in the Malaya account v. collected $18,000 from Mekhi, the remainder will not be collectible vi. the controller estimates that 2% of the total accounts receivable balance will be uncollectible b. What is the net realizable value of the accounts receivable after all adjustments? Date Account Titles and Explanation PR Debit Credit

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