What will be the net realizable value of account, Accounting Basics

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What will be the net realizable value of account

Determine bad debts expense using the percentage of sales method. Following are the 2010 year-end balances before adjustments;
• Accounts receivable (AR) $80,000
• Allowance for uncollectible accounts $ (2,000)
• Net sales $250,000
Using the percentage of sales method, the company estimates 3% of sales will become uncollectible. What is the bad debts expense for 2010? What will be the net realizable value of accounts receivable on the year-end balance sheet?

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Accounting Basics: What will be the net realizable value of account

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Recent Questions Asked Accounting Basics

Q : What is the total overhead variance

Q : Calculate the beginning book balance

Q : Determine temperature at the duct exit and heat transfer

Q : Discuss the direct materials price and quantity variances

Q : What will be the net realizable value of account

Q : Rimes restaurant makes large cash deposits

Q : Find maximum number of palletizers one operator can tend

Q : Describe how individual fixed overhead items are controlled

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What will be the net realizable value of account

Reference No:- TGS0713390

Recent Questions Asked Accounting Basics

Q : What is the total overhead variance

Q : Calculate the beginning book balance

Q : Determine temperature at the duct exit and heat transfer

Q : Discuss the direct materials price and quantity variances

Q : What will be the net realizable value of account

Q : Rimes restaurant makes large cash deposits

Q : Find maximum number of palletizers one operator can tend

Q : Describe how individual fixed overhead items are controlled

Q : Determine the effect on net income and earnings per share

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