The following data relate to accounts receivable of Ritsu Company for 2019: Accounts Receivable, Jan. 1 650,000 Credit Sales 2,700,000 Sales Return 75,000 Accounts Written Off 40,000 Collections from customers 2,150,000 Estimated future sales return at December 31 50,000 Estimated uncollectible accounts at 12/31 per aging 110,000 What amount should Ritsu report as net realizable value of accounts receivable on December 31, 2019?
The following data relate to accounts receivable of Ritsu Company for 2019:
Accounts Receivable, Jan. 1 650,000
Credit Sales 2,700,000
Sales Return 75,000
Accounts Written Off 40,000
Collections from customers 2,150,000
Estimated future sales return at December 31 50,000
Estimated uncollectible accounts at 12/31 per aging 110,000
What amount should Ritsu report as net realizable value of accounts receivable on December 31, 2019?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
