Rainbow Industries' records show the following information at December 31, 2024: Accounts receivable balance: $2,450,000 ⚫ Current allowance for doubtful accounts balance: $145,000 • ⚫ Based on aging analysis, total estimated uncollectible amounts: $215,000 Required: What is the net realizable value of Rainbow Industries' accounts receivable at December 31, 2024?
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- An analysis and aging of Sarasota Corp.’s accounts receivable at December 31, 2020, disclosed the following: Amounts estimated to be uncollectible $151,000 Accounts receivable 1,830,000 Allowance for doubtful accounts (per books) 140,000 What is the net realizable value of Sarasota Corp.’s receivables at December 31, 2020? Net realizable value $Enter your answer in accordance to the question statementAn analysis and aging of Sarasota Corp.’s accounts receivable at December 31, 2020, disclosed the following: Amounts estimated to be uncollectible $151,000 Accounts receivable 1,830,000 Allowance for doubtful accounts (per books) 140,000 What is the net realizable value of Sarasota Corp.’s receivables at December 31, 2020? Net realizable value $Enter your answer in accordance to the question statemThe following information is related to December 31, 2024 balances. • Accounts receivable . Allowance for doubtful accounts (credit) . Cash realizable value $1430000 (103000) 1327000 During 2025 sales on account were $390000 and collections on account were $217000. The company wrote off $21100 in uncollectible accounts. An analysis of outstanding receivable accounts at year-end indicated that uncollectibles should be estimated at $144000. Bad debt expense for 2025 is: O $62100. O $144000. O $41000. O $19900
- Injae Trading Company prepared an aging of its accounts receivable on December 31, 2020 and determined that the net realizable value of the Accounts Receivable was P2,500,000. Additional data is available as follows: Allowance for bad debts, January 1 P 280,000 • Accounts written off as uncollectible 230,000 • Accounts receivable, December 31 2,700,000 • Uncollectible accounts recovery 50,000 For the year ended December 31, 2017, what was the bad debts expense? A. P 230,000 B. P200,000 C. P150,000 D. P100,000Taiju Company prepared an aging of accounts receivable on December 31, 2020 and determined that the net realizable value of the accounts receivable was P2,500,000. Additional information is available as follows: Allowance for doubtful accounts on Jan. 1 280,000 Accounts written off as uncollectible 230,000 Accounts receivable on December 31 2,700,000 Uncollectible accounts recovery 50,000 For the year ended December 31, 2020, what amount should be recognized as doubtful accounts expense?Trading Company prepared an aging of its accounts receivable on December 31, 2020and determined that the net realizable value of the Accounts Receivable was P2,500,000. Additional data is available as follows: •Allowance for bad debts, January 1 P 280,000 •Accounts written off as uncollectible 230,000• Accounts receivable, December 31 2,700,000 •Uncollectible accounts recovery 50,000 For the year ended December 31, 2017, what was the bad debts expense?
- Warriors Company prepared an aging of its accounts receivable at December 31, 2023 and determined that the estimated uncollectible on that date was P85,200. During 2023, some customers' accounts were written off. Additional information is available as follows:Allowance for Bad Debts, December 31, 2022 P 63,000Bad debts expense reported in profit or loss 18,000Accounts Receivable, December 31, 2023 607,500Uncollectible accounts recovery during 2023 12,000 Question:21. How much were the accounts written off during 2023? A. P6,000 B. P7,800 C. P18,000 D. P22,200Pharoah Ltd. prepared an aging of its accounts receivable at December 31, 2023 and determined that the net realizable value of the receivables was $324800. Additional information for calendar 2023 follows: Allowance for expected credit losses, beginning $38080 Uncollectible account written off during year 25760 Accounts receivable, ending 358400 Uncollectible accounts recovered during year 5600 For the year ended December 31, 2023, Pharoah's loss on impairment should be $20000. $15680. ○ $17920. $25760.QUESTION: The uncollectible accounts expense for the year ended December 31, 2022 is?
- The following information is related to December 31, 2021 balances. • Accounts receivable $3490000 • Allowance for doubtful accounts (credit) ( 254000) • Cash realizable value $3236000 During 2022 sales on account were $ 885000 and collections on account were $ 500000. Also during 2022 the company wrote off $49000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $ 323000. The change in the cash realizable value from the balance at 12/31/21 to 12/31/22 was a $ 322000 increase. $ 267000 increase. $ 370000 increase. $ 316000 increase.Wallace Inc. had a net realizable value of receivables of $700,000 when they prepared an aging of the accounts receivable as of Dec 31,2020. Additional information is available as follows: What would be the uncollectible accounts expense for 2020? $32,000 $28,000 $18,000 $50,000The following information is related to December 31, 2024 balances. • Accounts receivable Allowance for doubtful accounts (credit) $1,400,000 (120,000) 1,280,000 Cash realizable value During 2025, sales on account were $390,000 and collections on account were $230,000. The company wrote off $22,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year-end indicated that uncollectibles should be estimated at $144,000. Bad debt expense for 2025 is A) $46,000. B) $24,000. C) $2,000. OD) $144,000.