Solved: Calculating the net realizable value of a/r, Accounting Basics

Calculating the net realizable value of a/r

I want assistance calculating the net realizable value of A/R at 12/31/09, as well as preparing a balance sheet for the company.

Current assets section of balance sheet for Company B:

A/R - $63,000
Less: Allowance for bad debts - (9,000) $54,000

The company's accounting records revealed the following information for the year ended December 31, 2009:

Sales (on all accounts) ......................................$480,000
Cash collections from customers...........................$435,000
Accounts written off..........................................$10,500
Bad debts expense (accrued at 12/31/09)...................$16,500

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Solution Preview :

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Accounting Basics: Calculating the net realizable value of a/r

Reference No:- TGS01738434

Have a Question? (oR Write a Review)

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Calculating the net realizable value of a/r

Reference No:- TGS01738434

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