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You have now recorded a series of transactions affecting accounts receivable for a whole year (2018). Refer back to the various net realizable value (NRV)
You have now recorded a series of transactions affecting accounts receivable for a whole year (2018). Refer back to the various net realizable value (NRV) calculations you made at various points during the year. Note: these are transactions that change NRV, so you should be reporting different amounts for each of these items. 1. What was the NRV at the beginning of the year (or at 12/31/17)? 2. What was the NRV after 2018 sales? 3. What was the NRV after 2018 collections? 4. Lastly, what was the NRV after the reinstated amount was collected in 2018? You have now recorded a series of transactions affecting accounts receivable for a whole year (2018). Refer back to the various net realizable value (NRV) calculations you made at various points during the year. Note: these are transactions that change NRV, so you should be reporting different amounts for each of these items. 1. What was the NRV at the beginning of the year (or at 12/31/17)? 2. What was the NRV after 2018 sales? 3. What was the NRV after 2018 collections? 4. Lastly, what was the NRV after the reinstated amount was collected in 2018
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