An analysis revealed Accounts Receivable of $350,000, an Allowance for Uncollectible based on the aging of $18,000. What is the net realizable value of accounts receivable?
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- Hello In calculating average accounts receivable net from financials, would I include: (current year and previous year) trade receivables, royalty advances, prepayments & accrued income, receivables from other parties, then divide by 2? Or would I go the other route to calculate average accounts receivable net and include: those receivables(current yr & prior yr) in the ageing of receivables group, add together and divide by 2? ThanksAt the end of the fiscal year, accounts receivable has a balance of $100000 and allowance for doubtful accounts has a balance of $ 7000. the expected net realizable value of the accounts receivable is?After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $645,933 and Allowance for Doubtful Accounts has a balance of $20,821. What is the net realizable value of the accounts receivable?
- a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. c. Determine the net realizable value of accounts receivable.What is the accounts receivable turnover rate on these accounting question?Accounts receivable turnover is 4. What is the average collection period assuming annual data are used? What is the average collection period assuming quarterly data are used?
- What is the net realizable value of accounts receivable at the end of year, given the following information:Balance in Accounts Receivable at end of year, $104,000Balance in Allowance for Doubtful Accounts, beginning of year, $2,000 debitWrite-offs during year, $5,000Bad debt expense for year, $9,000Recoveries during year of accounts previously written-off, $2,000Provide correct net realizable value of accounts receivable?How to calculate the total outstanding receivables?? For example if at the Dec 31 2013, total sales on account and invoiced during the year, the account receivable balance outstanding at the year end, the date when the invoice was issued and the date when the invoice was paid off was given!
- Give Me More Credit uses the aging method to calculate its "Allowance for Expected Credit Losses". The aging report indicates that $17,627 of its $101,474 of accounts receivables are estimated to be uncollectible. If the Allowance for Expected Credit Losses has a $1,101 credit balance (Before any adjustments), we will DR. Credit Losses for:How do I solve this?The financial data for A Company is the following: Balance sheet data (in $ millions) at 12/31 Accounts receivable Less: allowance for doubtful accounts Accounts receivable (net) Income statement data, year ending 12/31 Net sales (assume all on credit) Uncollectible accounts expense 2021 $ 500 150 350 2020 $ 450 140 310 $33,400 $21,500 100 110 1. Compute the accounts receivable turnover ratio for 2021 and 2020. 2. Wat amount of accounts receivable was collected in 2021? 3. How much was the write off of uncollectible accounts in 2021? 2019 $410 160 250 $19,200 95