An account receivable from aburton Company of $ 1960 Taylor, Inc. had accounts receivable of $435,000 and anallowance for doubtful accounts of $18,500 just beforewriting off as worthless an account receivable from BurtonCompany of $1,690.The net realizable value of the accounts receivable beforeand after the write-off was:A. $411,800 before and $411,800 after.B. $448,200 before and $446,810 after.C. $416,500 before and $416,500 after.D. $411,800 before and $410,410 after.

Explanation of Net Realizable Value (NRV):Net Realizable Value (NRV) represents the estimated amount…

Answered: Taylor, Inc. had accounts receivable of…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4PB: Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts...

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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.
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Blackhorse Productions, Inc., used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $23,550. The account had an unadjusted credit balance of $11,900 at that time. a. The appropriate bad debt adjustment was recorded. b. Later, an account receivable for $2,900 was determined to be uncollectible and was written off. Required: For each transaction listed above, indicate the amount and direction +for increase or -for decrease) of effects on the financial statement accounts and on the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.) Assets Liabilities Stockholders' Equity
Blackhorse Productions, Incorporated, used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $22,350. The account had an unadjusted credit balance of $11,300 at that time. a. The appropriate bad debt adjustment was recorded. b. Later, an account receivable for $2,300 was determined to be uncollectible and was written off. Required: For each transaction listed above, indicate the amount and direction (+ for increase or - for decrease) of effects on the financial statement accounts and on the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.) Assets Allowance for Doubtful Accounts Allowance for Doubtful Accounts a. b. b. Accounts Receivable 9,250 X = 1,100 X = (1,100) X = > Answer is complete but not entirely correct. Liabilities + + + + Bad Debt Expense Stockholders' Equity 9,250 X
Can you help me with A,b,c,e and f?
Blackhorse Productions, Incorporated, used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $22,550. The account had an unadjusted credit balance of $11,400 at that time. The appropriate bad debt adjustment was recorded. Later, an account receivable for $2,400 was determined to be uncollectible and was written off. Required: For each transaction listed above, indicate the amount and direction (+ for increase or − for decrease) of effects on the financial statement accounts and on the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.)
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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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

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