Jinx Company provided the following information for 2013 in relation to accounts receivable: Accounts receivable, January 1 Credit sales Sales return 1,300,000 5,500,000 150,000 100,000 5,000,000 50,000 250,000 Accounts written off Collections from customers Estimated future sales return on December 31 Estimated uncollectible accounts per aging at year-end What amount should be reported as net realizable value of accounts receivable on December 31, 2013? a. 1,550,000 b. 1,250,000 c. 1,300,000 d. 1,500,000

Jinx Company provided the following information for 2013 in relation to accounts receivable: Accounts receivable, January 1 Credit sales Sales return 1,300,000 5,500,000 150,000 100,000 5,000,000 50,000 250,000 Accounts written off Collections from customers Estimated future sales return on December 31 Estimated uncollectible accounts per aging at year-end What amount should be reported as net realizable value of accounts receivable on December 31, 2013? a. 1,550,000 b. 1,250,000 c. 1,300,000 d. 1,500,000

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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