Can you help me with accounting questions Mendoza Company has accounts receivable of $520,000 and an allowance for doubtfulaccounts of $24,600 before writing off an uncollectible account from Rivera Corp. for $2,750.What is the net realizable value of accounts receivable before and after the write-off?A. $520,000 before and $517,250 afterB. $495,400 before and $492,650 afterC. $495,400 before and $495,400 afterD. $544,600 before and $541,850 after

Step 1: Definition of Net Realizable Value (NRV) of Accounts ReceivableThe Net Realizable Value…

Answered: Mendoza Company has accounts receivable…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 1CE

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A customer was unable to pay the accounts receivable on time in the amount of $34,000. The customer was able to negotiate with the company and transferred the accounts receivable into a note that includes interest, along with an up-front cash payment of $6,000. The note maturity date is 24 months with a 15% annual interest rate. What is the entry to recognize this transfer?
Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts receivable. The uncollectible percentage is 3.1% for the income statement method and 4.5% for the balance sheet method. A. Record the year-end adjusting entry for 2018 bad debt using the income statement method. B. Record the year-end adjusting entry for 2018 bad debt using the balance sheet method. C. Assume there was a previous debit balance in Allowance for Doubtful Accounts of $20,550; record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method. D. Assume there was a previous credit balance in Allowance for Doubtful Accounts of $17,430; record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method.
Kirchhoff Industries has a past history of uncollectible accounts, as follows. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule you completed in Exercise 9-8.
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The net realisable value of the account receivable before and after the write off was .
What is the net realizable value of accounts receivable after the write off entry on these general accounting question?
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Entity G uses the allowance method for uncollectible accounts. Accounts receivable has a balance of $12,000 and the allowance account has a credit balance of $1,300. Entity A writes of an $800 account. What is the net realizable value of accounts receivable after the write off?: a) $11,200 b) none of the above. c) $10,700 d) $9,900
One company has estimated that $3150 of its accounts receiable will be uncollectible. If allownace for doubtful accounts already has a credit balance of $1102, and the percentage of receivables method is used, it sadjustment to recrod for the period will require a debit to what for what amount?

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