ACC 100 Chapter Notes - Chapter 7: No Entry, Accounts Receivable, Income Statement
15 Apr 2016
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Aplia chapter 7, accounts receivable: net realizable value of accounts receivable. On january 15, 2012, the accounts receivable balance was ,000 and the balance in the allowance for doubful accounts was . That morning a uncollecible account was writen-of. The net realizable value of accounts receivable immediately ater the write-of is: ,800, ,300, ,900, ,200. Net realizable value ,300: bad debt expense. The data presented below for credit corp. is for the year ended december 31, Allowance for doubful accounts (before adjustment at december 31, 2012) Esimated amount for uncollecible accounts based on aging analysis. If credit corp. uses the aging of accounts receivable approach to esimate its bad debts, what amount will be reported as bad debt expense for 2012: ,700, ,300, ,000, ,700. ,000 - ,300 = ,700: bad debt expense. On november 2, 2012, key general store concluded that a customer"s account receivable was uncollecible and that the account should be writen of.
