Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Connect with a community of experts ready to help you find accurate solutions to your questions quickly and efficiently. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Before year-end adjusting entries, Crane Company's account balances at December 31, 2017, for accounts receivable and the related allowance for uncollectible accounts were $1400000 and $75000, respectively. An aging of accounts receivable indicated that $120000 of the December 31 receivables are expected to be uncollectible. The net realizable value of accounts receivable after adjustment is

Sagot :

ayokenny2001

Answer:

$1,280,000

Explanation:

The net realizable value of accounts receivable after the net adjustment is computed as

= Ending balance in Accounts receivables - Uncollectible ageing accounts receivables

Given that;

Ending balance in Accounts receivables = $1,400,000

Uncollectible ageing accounts receivables = $120,000

Net realizable value of the accounts receivables after the net adjustment = $1400,000 - $120,000

= $1,280,000

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.