Larkspur Inc.'s unadjusted trial balance at December 31, 2017, included the following accounts: Debit Credit Allowance...
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Larkspur Inc.'s unadjusted trial balance at December 31, 2017, included the following accounts: Debit Credit Allowance for doubtful accounts $8,100 Sales revenue $1,977,500 Sales returns and allowances 60,500 Sales discounts 4,230 Larkspur estimates its bad debt expense to be 1.5% of net sales. Determine its bad debt expense for 2017. (Round answer to 0 decimal places, e.g. 58,971.) Bad debt expense s28692 *(b) An analysis and aging of Blue Spruce Corp.'s accounts receivable at December 31, 2017, disclosed the following: Amounts estimated to be uncollectible $158,600 Accounts receivable 1,792,000 Allowance for doubtful accounts (per books) 120,000 What is the net realizable value of Blue Spruce Corp.'s receivables at December 31, 2017? Net realizable value Larkspur Inc.'s unadjusted trial balance at December 31, 2017, included the following accounts: Debit Credit Allowance for doubtful accounts $8,100 Sales revenue $1,977,500 Sales returns and allowances 60,500 Sales discounts 4,230 Larkspur estimates its bad debt expense to be 1.5% of net sales. Determine its bad debt expense for 2017. (Round answer to 0 decimal places, e.g. 58,971.) Bad debt expense s28692 *(b) An analysis and aging of Blue Spruce Corp.'s accounts receivable at December 31, 2017, disclosed the following: Amounts estimated to be uncollectible $158,600 Accounts receivable 1,792,000 Allowance for doubtful accounts (per books) 120,000 What is the net realizable value of Blue Spruce Corp.'s receivables at December 31, 2017? Net realizable value
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Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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