Metso Corporation is a Finnish engineering firm specializing in design and development for the paper and pulp industry. Metso applies IFRS and reports its results in millions of euros (€). For the years ended December 31, 2012 and 2011, Metso reported the following information pertaining to accounts receivable:

The Other Charges to Allowance reflect the effects of business acquisitions and exchange rates. At December 31, 2010, the Allowance for Doubtful Accounts had a balance of €35.
a. What is the carrying value of accounts receivable on Metso’s balance sheets for the years ended December 31, 2012, and December 31, 2011?
b. What is the total amount that customers owe Metso as of December 31, 2012, and
December 31, 2011?
c. What journal entries did Metso make in 2012 and 2011 to recognize write-offs of uncollectibleaccounts?

  • CreatedMarch 04, 2014
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