Ron Company reports the following information for the 2022 fiscal year: Sales on Account: $420,000 Accounts Receivable: $105,000 Allowance for Doubtful Accounts: $4,800 Determine the average number of days it takes Ron to collect its accounts receivable.
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- At the end of the fiscal year, accounts receivable has a balance of $100000 and allowance for doubtful accounts has a balance of $ 7000. the expected net realizable value of the accounts receivable is?The 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.Hopefully this is the last one, can you show me this one too? 3. The data presented below are for XYZ Corporation for the year ended December 31, 2018: Credit Sales $1,800,000 Accounts Receivable (12/31/18) 210,000 Sales returns 90,000 Estimated amount of uncollectible accounts based on an aging analysis 22,000 Allowance for doubtful accounts (before adjustment at December 31, 2018) 2,000 A. If bad debts are estimated at 3% of net credit sales, what amount will be reported as bad debts expense for 2018? B. If bad debts are estimated at 3% of net credit sales, what will be the balance in the Allowance for DoubtfulAccounts account after the adjustment for bad debts?
- A company reports the following: Sales $572,320Average accounts receivable (net) 20,440Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover fill in the blank 1b. Number of days' sales in receivables fill in the blank 2 daysMonthly average accounts receivable:480000, net sales on account:5750000Prepare the entry to record the write-off of uncollectible accounts during the period. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit Assistance Used
- After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $450,000 and Allowance for Doubtful Accounts has a balance of $25,000. What is the net expected realizable value of the accounts receivable? $25,000 O $450,000 O $455,000 $425,000What is the forecasted accounts receivable on these general accounting question?Vikram