Sunshine Limited sells sun visors and hats to wholesalers and distributors. It has been expanding over...
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Sunshine Limited sells sun visors and hats to wholesalers and distributors. It has been expanding over the last few years and increased the amount 3 of credit sales to its customers. The following is an aged receivable listing: Amount Outstanding at 31-Dec-23 0 to 30 31 to 60 61 to 90 91 to 120 Over 120 % Estimate of Uncollectable 1.50% 4.50% 7.00% 15.00% 25.00% $125,000 100,000 85,000 75,000 55,000 Instructions Assuming that there is a debit balance of $2,675 in the allowance for expected credit losses account, what is the net realizable value of accounts receivable to be reported on the Statement of Financial Position. Sunshine Limited sells sun visors and hats to wholesalers and distributors. It has been expanding over the last few years and increased the amount 3 of credit sales to its customers. The following is an aged receivable listing: Amount Outstanding at 31-Dec-23 0 to 30 31 to 60 61 to 90 91 to 120 Over 120 % Estimate of Uncollectable 1.50% 4.50% 7.00% 15.00% 25.00% $125,000 100,000 85,000 75,000 55,000 Instructions Assuming that there is a debit balance of $2,675 in the allowance for expected credit losses account, what is the net realizable value of accounts receivable to be reported on the Statement of Financial Position.
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Managerial Accounting Decision Making and Performance Management
ISBN: 978-0273764489
4th edition
Authors: Ray Proctor
Posted Date:
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