Gen Combo Ll Financial Accounting Fundamentals; Connect Access Card
Gen Combo Ll Financial Accounting Fundamentals; Connect Access Card
7th Edition
ISBN: 9781260581256
Author: John Wild
Publisher: McGraw-Hill Education
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Chapter 7, Problem 5BTN
To determine

Accounts Receivable:

It refers to the amount that is to be received by a company for providing goods and services on credit. It is an asset account.

Allowance for Doubtful Account:

It refers to the estimation that a company makes on the loss of uncollectible on accounts receivable. It is created by the company to be saved from the expected loss on accounts receivables due to non payment.

1.

To identify: The amount of given company’s net accounts receivables at Dec 31, 2015 and Dec 31, 2014.

2.

To determine

To identify: The allowance for doubtful accounts of the given company and its value as a percent of gross accounts receivable for two years.

3.

To determine

To explain: Whether the above percentages are reasonable based on what is known about the company.

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Gen Combo Ll Financial Accounting Fundamentals; Connect Access Card

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