Silver Peak Solutions reported the following balances at the end of the year: • Credit Sales: $300,000 • Accounts Receivable: $50,000 • Allowance for Uncollectible Accounts before adjustment: $1,500 debit Silver Peak estimates that 4% of the credit sales will be uncollectible. What is the net realizable value of accounts receivable after the year-end adjustment?

Silver Peak Solutions reported the following balances at the end of the year: • Credit Sales: $300,000 • Accounts Receivable: $50,000 • Allowance for Uncollectible Accounts before adjustment: $1,500 debit Silver Peak estimates that 4% of the credit sales will be uncollectible. What is the net realizable value of accounts receivable after the year-end adjustment?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4PA: Jars Plus recorded $861,430 in credit sales for the year and $488,000 in accounts receivable. The...

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