Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 18 Aug 2017 My Price 4.00

accounts receivable as uncollectible

On January 1, 2005, ABC Company had accounts receivable of $98,000 and an allowance for doubtful accounts with a credit balance of $17,000. During 2005, ABC Company reported sales (all on account) of $850,000; collected $625,000 cash from its credit customers; and wrote-off $12,000 of accounts receivable as uncollectible $12,000. ABC Company uses the net credit sales method to estimate bad debt expense and estimated bad debt expense for 2005 as 4% of net credit sales. Calculate the net realizable value of ABC Company's accounts receivable at December 31, 2005. Do not use decimals in your answer.

Answers

(5)
Status NEW Posted 18 Aug 2017 11:08 PM My Price 4.00

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