Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 3 On 1 Dec 2 0 2 3 , Fruits Pte Ltd ' s trial balance includes the following items: ( i ) In
Question
On Dec Fruits Pte Ltds trial balance includes the following items:
i In the month of December, Fruits Pte Ltd made credit sales of $ and a
cash sale of $
ii The company also collected $ from its accounts receivables in December.
iii A review of the Accounts Receivables on Dec reveals the following:
An aging analysis of the rest of the accounts receivables indicated that an estimated of these
accounts would not be collectible.
The company uses the allowance method to value its accounts receivables.
a Journalise the transactions above including the necessary adjusting journal entries for the company to recognize bad debts.
Narration is not required. However, it is important to present all the workings. Round your answers to nearest $ marks
b Determine the net realizable value of the accounts receivable as of Dec. marks
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started