For 2023, Agn-9h5 Company reported sales revenue of $428,000. At January 1, 2023, Agn-9h5 Company...

70.2K

Verified Solution

Question

Accounting

image

For 2023, Agn-9h5 Company reported sales revenue of $428,000. At January 1, 2023, Agn-9h5 Company reported an allowance for doubtful accounts with a $19,720 credit balance. There were no write-offs or recoveries recorded during 2023. At December 31, 2023, Agn-9h5 Company prepared the following aging schedule: Accounts Receivable not past due $271,200 1 month past due 119,340 2 months past due 60, 140 over 2 months past due 22,600 % Uncollectible 3% 5% 15% 29% At December 31, 2023, Agn-9h5 Company's net realizable value was equal to: O $388,918 O $443,602 O $408,280 O $446,758 $378,602 O $409,278 $423,882 O $453,560 $398,322 O $418,042

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students