The following data concern Tech Corporation for the 2022 financial year. Credit sales during the year $2 400 000 Accounts receivable 30 June 2022 410 000 Allowance for bad debts 30 June 2022 55 000 Bad debt expense for the year 70 000 What amount will Tech Corporation show on its year-end balance sheet for the net realisable value of its accounts receivable? a. 410 000 b. $285 000 c. $340 000 d. $ 355 000
The following data concern Tech Corporation for the 2022 financial year. Credit sales during the year $2 400 000 Accounts receivable 30 June 2022 410 000 Allowance for bad debts 30 June 2022 55 000 Bad debt expense for the year 70 000 What amount will Tech Corporation show on its year-end balance sheet for the net realisable value of its accounts receivable? a. 410 000 b. $285 000 c. $340 000 d. $ 355 000
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 12MC: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales...
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![The following data concern Tech Corporation
for the 2022 financial year. Credit sales during
the year $2 400 000 Accounts receivable 30
June 2022 410 000 Allowance for bad debts
30 June 2022 55 000 Bad debt expense
for the year 70 000 What amount will Tech
Corporation show on its year-end balance
sheet for the net realisable value of its
accounts receivable?
a. 410 000
b. $285 000
c. $340 000
d. $ 355 000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcb1bbf58-5e94-444a-bc1b-96cb0d2eedb7%2Fdc842150-40c4-4224-8e3f-3982ba711d45%2Fqxz8gx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following data concern Tech Corporation
for the 2022 financial year. Credit sales during
the year $2 400 000 Accounts receivable 30
June 2022 410 000 Allowance for bad debts
30 June 2022 55 000 Bad debt expense
for the year 70 000 What amount will Tech
Corporation show on its year-end balance
sheet for the net realisable value of its
accounts receivable?
a. 410 000
b. $285 000
c. $340 000
d. $ 355 000
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