What is the estimated net realizable value of Bramble's accounts receivable before and after the entries above? What is the book value of Bramble's accounts receivable before and after the entries above?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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At the end of 2023, Bramble Corp. has accounts receivable of $2.30 million and an allowance for expected credit losses of $110,500.
On January 16, 2024, Bramble determined that its $20,600 receivable from Cullumber Company will not be collected, and
management has authorized its write-off. On January 31, 2024, Bramble received notification that the company will receive $0.15 for
every $1.00 of accounts receivable relating to Oriole Company The company had previously written off 100% of the amount due from
Oriole ($58,500).
(a)
(b)
Your answer is partially correct.
What is the estimated net realizable value of Bramble's accounts receivable before and after the entries above? What is the book
value of Bramble's accounts receivable before and after the entries above?
Net Realizable Value
Book Value
GA
$
tA
Before
Adjustments
2189500
$
$
After
Adjustments
Transcribed Image Text:At the end of 2023, Bramble Corp. has accounts receivable of $2.30 million and an allowance for expected credit losses of $110,500. On January 16, 2024, Bramble determined that its $20,600 receivable from Cullumber Company will not be collected, and management has authorized its write-off. On January 31, 2024, Bramble received notification that the company will receive $0.15 for every $1.00 of accounts receivable relating to Oriole Company The company had previously written off 100% of the amount due from Oriole ($58,500). (a) (b) Your answer is partially correct. What is the estimated net realizable value of Bramble's accounts receivable before and after the entries above? What is the book value of Bramble's accounts receivable before and after the entries above? Net Realizable Value Book Value GA $ tA Before Adjustments 2189500 $ $ After Adjustments
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