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RUDIKE [14]
3 years ago
15

At the end of the year, Swain Company had the following information: Credit sales for the year $1,000,000 Accounts receivable, b

eginning of year 250,000 Cash collections during the year 1,050,000 Allowance for doubtful accounts, beginning of year 25,000 Bad debt expense recorded during the year, 8,000 Based on this information and assuming no write-offs were recorded under the allowance method, what is the net realizable value of accounts receivable at the end of the year? Question 1 options: 217,000 192,000 200,000 167,000 175,000
Business
1 answer:
xz_007 [3.2K]3 years ago
6 0

Answer:

what is the net realizable value of accounts receivable at the end of the year?

options: 217,000

Explanation:

Credit sales_______1000000

Cash Collections__ _1050000

Account Receivable__250000

 

Allowance begining___25000

Bad debt expense ____8000

Net realizable value__217000

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Answer:

A decrease in the price of domestically produced industrial robots will be reflected in the GDP deflator but not in the consumer price index.

<u>Explanation:</u>

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2 years ago
On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $ 66,000 Maria Lopez, Drawing $
vlada-n [284]

Answer:

1. Dec 31, 2019

Dr Fees Income $107,500

Cr Income Summary $107,500

2. Dec 31, 2019

Dr Income summary 60,000

Cr Salaries expense 34,000

Cr Supplies expense 6,000

Cr Utilities expense 9,300

Cr Telephone expense 5200

Cr Depreciation expense 5500

3. Dec 31, 2019

Dr Income summary 47,500

Cr Retained earnings 47,500

4. Dec 31, 2019

Dr Maria lopez, capital 52,000

Cr Maria lopez, drawing 52,000

Explanation:

Preparation of the closing entries for the above transactions

1. Dec 31, 2019

Dr Fees Income $107,500

Cr Income Summary $107,500

(To close revenue account)

2. Dec 31, 2019

Dr Income summary 60,000

(5500+5200+9300+6000+34000)

Cr Salaries expense 34,000

Cr Supplies expense 6,000

Cr Utilities expense 9,300

Cr Telephone expense 5200

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3. Dec 31, 2019

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($107,500-60,000)

Cr Retained earnings 47,500

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4. Dec 31, 2019

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2 years ago
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7 0
3 years ago
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A marginal external cost of a product is equal to
Lyrx [107]

Answer:

the answer is D hope that helps you out

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