During the year, Botswana Company made an entry to write off a $14,000 uncollectible account. Before...
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During the year, Botswana Company made an entry to write off a $14,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $585,000 and the balance in the allowance account was $25,000. What was the net realizable value of accounts receivable after the write-off entry? 17) The following information is available for Brazil Company: Allowance for doubtful accounts at December 31, 2020: Credit sales during 2021: Accounts receivable deemed worthless and written off during 2021: $ 28,000 1,200,000 32,000 As a result of a review and aging of accounts receivable in early January 2022, it has been determined that an allowance for doubtful accounts of $14,500 is needed at December 31, 2021. What amount should Brazil record as "bad debt expense" for the year ended December 31, 2021? During the year, Botswana Company made an entry to write off a $14,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $585,000 and the balance in the allowance account was $25,000. What was the net realizable value of accounts receivable after the write-off entry? 17) The following information is available for Brazil Company: Allowance for doubtful accounts at December 31, 2020: Credit sales during 2021: Accounts receivable deemed worthless and written off during 2021: $ 28,000 1,200,000 32,000 As a result of a review and aging of accounts receivable in early January 2022, it has been determined that an allowance for doubtful accounts of $14,500 is needed at December 31, 2021. What amount should Brazil record as "bad debt expense" for the year ended December 31, 2021?
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Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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