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Compute net accounts receivable for the following independent situations.

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Compute net accounts receivable for the following independent situations.

Compute net accounts receivable for the following independent situations.

a)   Accounts receivable has a balance of $16,000. The allowance for doubtful accounts has a credit balance prior to adjustment of $350. An aging schedule prepared on December 31 reveals $1,250 of uncollectible accounts.
b)   Accounts receivable has a balance of $17,500. The allowance for doubtful accounts has a debit balance prior to adjustment of $560. An aging schedule prepared on December 31 reveals $1,500 of uncollectible accounts.
c)   Accounts receivable has a balance of $15,500. The allowance for doubtful accounts has a debit balance prior to adjustment of $760. Net credit sales for the year are $35,000 and 3.5% of net credit sales are deemed uncollectible.
d)   Accounts receivable has a balance of $20,200. The allowance for doubtful accounts has a credit balance prior to adjustment of $460. Net credit sales for the year are $35,000 and 4.5% of net credit sales are deemed uncollectible.

Textbook

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

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More solutions for this book are available here

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Jake J.

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3 years ago Edited: 3 years ago, Jake Jurgeneit

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