Net realizable value of account receivable During the year, Kowalski Companymade an entry to write off a $7,500uncollectible account. Before this entrywas made, the balance in accountsreceivable was $280,000 and the balance inthe allowance account was $22,500. Thenet realizable value of accounts receivableafter the write-off entry was: A. $257,500.B. $184,000. C. $176,000. D. $288,000.

Explanation of Accounts Receivable:Accounts receivable refers to the outstanding amounts a company…

Answered: During the year, Kowalski Company made…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

During the year, Kiner Company made an entry to write off a $9,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $315,000 and the balance in the allowance account was $27,000. The net realizable value of accounts receivable after the write-off entry was: A. $200,000. B. $184,000. C. $176,000. D. $288,000. answer
During the year
During the year, Kowalski Company made an entry to write off a $7,500 uncollectible account. Before this entry was made, the balance in accounts receivable was $280,000 and the balance in the allowance account was $22,500. The net realizable value of accounts receivable after the write-off entry was: A. $257,500. B. $184,000. C. $176,000. D. $288,000.
Need answer please
Dauring the year, Kiner Company made an entry to write off a $32,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $400,000 and the balance in the allowance account was $36,000. The accounts receivable amount expected to be collected after write-off entry was.
The net realisable value of accounts receivable?
mn
During the year, Blossom Enterprises made an entry to write off an $8100 uncollectible account. Before this entry was made, the balance in accounts receivable was $100100 and the balance in the allowance account was $9100 (credit balance). The net realizable value of accounts receivable before and after the write-off entry was O$100100. Ⓒ$99100. O $82900 O $91000
Brickman’s ending balance of Accounts Receivable is $19,500. Use the data in the preceding question to compute the net realizable value of Accounts Receivable at year-end. $16,800 $19,500 $17,400 $17,900
On January 1, Year 2, the Accounts Receivable balance was $32,900 and the balance in the Allowance for Doubtful Accounts was $4,100. On January 15, Year 2, an $1,210 uncollectible account was written-off. The net realizable value of accounts receivable immediately after the write-off is: Multiple Choice $27,590. $31,690. $30.010. $28,800.
Hope Company’s total assets were $7,375. Hope collected on $617 of account receivable that had previously been written off. After the collection, Hope’s total assets will be $______
Tantrum Company provided the following information in relation to accounts receivable at year-end: Days outstanding estimated amount %uncollectible www M 1% 1,200,000 900,000 0-60 61-120 2% 1,000,000 3,100,000\ During the current year, the entity wrote off P70,000 in accounts receivable and recovered P20,000 that had been written off in prior years. At the beginning of current year, the allowance for uncollectible accounts was Over 120 6% P60,000. Under the aging method, what amount of uncollectible accounts expense should be reported for the current year?

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS