At the end of the year, after adjustments and closings, the accounts receivable for Speedy Supplies have a final balance of $450,000. An estimate of $60,000 is set aside for doubtful accounts. What is the net realizable value of accounts receivable?
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- After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $450,000 and Allowance for Doubtful Accounts has a balance of $25,000. What is the net expected realizable value of the accounts receivable? $25,000 O $450,000 O $455,000 $425,000After adjustment for the above facts, what would be the net realizable value of accounts receivable?After adjustment for the above facts,what would be the net realizable value of accounts receivable
- What would the net realizable value of account receivable?Before the year-end adjustment the Allowance for Doubtful Accounts has a debit balance of $5,000. Using the aging of receivables method, the desired balance of the Allowance for Doubtful Accounts is estimated as $35,000. a) What is the uncollectible accounts expense for the period? b) What is the journal entry required? c) What is the balance of the Allowance for Doubtful Accounts after adjustment? d) If the accounts receivable balance is $325,000, what is the net realizable value of the receivables after adjustment????
- Suppose the balance in the Allowance for Doubtful Accounts at the end of year is a $400 Debit balance before adjustment. The company estimates future uncollectible accounts to be $3,200. At what amount would Bad Debt Expense be reported in the current year's income statement? A. $400 B. $2,800 C. $3,600 D. $3,200a. 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.A company's Accounts Receivable balance at Dec. 31 was $120,000, and there was a debit balance of $600 in the Allowance for Doubtful Accounts. The firm estimates that 4% of the A/R will prove to be uncollectible. After the appropriate adjusting entry is made for estimated credit losses, what is the net realizable value of the accounts receivables at year-end?