Chp 6 problems Sheet1

Net realized value of accounts before the write o net

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ear and (2) the write ­off of uncollec+ble accounts at the end of the year. PE 6 ­10 Compu+ng Net Accounts Receivable Refer to data in PE6 ­9. Taking into account the allowance for bad debts established at the end of the year, compute the net realized value of accounts receivable (1) before the write ­off of uncollec+ble accounts an (2) aUer the write ­off of uncollec+ble accounts. Net Realized value of accounts before the write off Net Realized value of accounts aUer the write off PE 6 ­11 Collec+on Accounts Previously Wri_en Off Refer to the data in PE 6 ­9. Assume that one customer, whose account had previously been wri_en off, returned from exile in the Bahamas and paid his account of $7,000. Make the journal entry or entries necessary to record the receipt of this payment. PE 6 ­12 Es+ma+ng Uncollec+ble Accounts Receivable as a Percentage of Credit Sales Palmer Company had an Accounts Receivable balance of $85,000 and an Allowa...
View Full Document

This note was uploaded on 01/29/2014 for the course ACC 221 taught by Professor Julieancius during the Spring '12 term at Wisc La Crosse.

Ask a homework question - tutors are online