Question:

Note: is not 11278, thank you!

More info Requirements 1. Record Keeler's November transactions, including the cost of goods sold entries for each sale. 2. Calculate the net realizable value of accounts receivable as of November 30 . More info Accounts Receivable $5,600 Allowance for Uncollectible Accounts $310 credit balance November 27 Sold $400 of merchandise to Darius's One-Stop-Shop on account. Terms were 3/10, net 30 . Keeler's cost of this merchandise was $120. November 1-30 Sales on account during the month of November for transactions not listed individually totaled $7,100. Cost of goods sold for these sales totaled $2,840. November 1-30 Credit card sales on account during the month of November for transactions not listed individually totaled $3,000. The credit card company charges Keeler a fee of 3% on credit card sales. Cost of goods sold for these sales totaled $890. November 1-30 Cash collections on account during the month of November for transactions not listed individually totaled $4,900. (No discounts were taken by these customers.) November 30 Keeler made the adjusting entries for the month to accrue for estimated future returns. Keeler estimates that 6% of total sales will be returned. Keeler assumes that cost of goods sold is 40% of sales. November 30 Keeler made an adjusting entry to estimate uncollectible account expense for the month of November. Keeler estimates its uncollectible-account expense as 4% of total credit (on account) sales for the month. Requirement 2. Calculate the net realizable value of accounts receivable as of November 30 . The net realizable value of accounts receivable as of November 30 is