At the beginning of the current period, Sunland company had balances in accounts receivables of $201,900 and in Allowance for Doubtful Accounts of $9,590 (credit). During the period, it had credit sales of $875,700 and collections of $796,820. It was written off as uncollectible accounts receivable of $7,410. However, a $2,808 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,830 at the end of the period (Omit the cost of goods sold entries). a) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. b) What is the net realizable value of the receivables at the end of the period?
At the beginning of the current period, Sunland company had balances in accounts receivables of $201,900 and in Allowance for Doubtful Accounts of $9,590 (credit). During the period, it had credit sales of $875,700 and collections of $796,820. It was written off as uncollectible accounts receivable of $7,410. However, a $2,808 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,830 at the end of the period (Omit the cost of goods sold entries). a) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. b) What is the net realizable value of the receivables at the end of the period?
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4PB: Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts...
Related questions
Question
Answer with explanation
![At the beginning of the current period, Sunland company had balances in accounts
receivables of $201,900 and in Allowance for Doubtful Accounts of $9,590 (credit). During
the period, it had credit sales of $875,700 and collections of $796,820. It was written off as
uncollectible accounts receivable of $7,410. However, a $2,808 account previously written
off as uncollectible was recovered before the end of the current period. Uncollectible
accounts are estimated to total $25,830 at the end of the period (Omit the cost of goods sold
entries).
a) Determine the ending balances in Accounts Receivable and Allowance for Doubtful
Accounts.
b) What is the net realizable value of the receivables at the end of the period?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F728cf59a-a2e6-4af2-a347-4ce18975c963%2Fa3349930-aace-4e88-a6c3-2933d3842959%2Fy6nyzgf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:At the beginning of the current period, Sunland company had balances in accounts
receivables of $201,900 and in Allowance for Doubtful Accounts of $9,590 (credit). During
the period, it had credit sales of $875,700 and collections of $796,820. It was written off as
uncollectible accounts receivable of $7,410. However, a $2,808 account previously written
off as uncollectible was recovered before the end of the current period. Uncollectible
accounts are estimated to total $25,830 at the end of the period (Omit the cost of goods sold
entries).
a) Determine the ending balances in Accounts Receivable and Allowance for Doubtful
Accounts.
b) What is the net realizable value of the receivables at the end of the period?
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 3 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,