in good form. 1. A company provided the following data for the current year: Sales on aCcount 3,600,000 400,000 80,000 25,000 3,900,000 3,200,000 260,000 15,000 2,450,000 250,000 70,000 100,000 40,000 180,000 Notes received to settle accounts Provision for doubtful accounts Accounts receivable written off Purchases on account Payments to creditors Discounts allowed by creditors Merchandise returned by customer Collections received to settle accounts Notes given to creditors in settlement of accounts Merchandise returned to suppliers Payments on notes payable Discounts taken by customers Collections received in settlement of notes What is the net realizable value of accounts receivable at year-end? а. 670,000 b. 825,000 С. 615,000 d. 605,000

in good form. 1. A company provided the following data for the current year: Sales on aCcount 3,600,000 400,000 80,000 25,000 3,900,000 3,200,000 260,000 15,000 2,450,000 250,000 70,000 100,000 40,000 180,000 Notes received to settle accounts Provision for doubtful accounts Accounts receivable written off Purchases on account Payments to creditors Discounts allowed by creditors Merchandise returned by customer Collections received to settle accounts Notes given to creditors in settlement of accounts Merchandise returned to suppliers Payments on notes payable Discounts taken by customers Collections received in settlement of notes What is the net realizable value of accounts receivable at year-end? а. 670,000 b. 825,000 С. 615,000 d. 605,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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