Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. for its first year of operations, a company report

For its first year of operations, a company reported total credit sales of $1,120,000. The...

70.2K

Verified Solution

Question

Accounting

For its first year of operations, a company reported total credit sales of $1,120,000. The Accounts receivable balance at year end was $190,000. The bad debts are estimated to equal to 1.5% of credit sales. What is the net realizable value of the accounts receivable at the end of the year? ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS OR OTHER DISCRIPTIONS.

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

Biology
1.2K views

What was one positive effect of the Oil Embargo? A. Americans exponentially increased their energy...

Physics
1.2K views

3 ALLEN An iron ball of mass 100 g moving with a 28 velocity of...

Geometry
1.2K views

Find BD B C BD 36 Write your answer as an integer or as a...

Calculus
1.2K views

The rotation of the smaller wheel in the figure causes the larger wheel to rotate...

Algebra
1.2K views

Which polynomial represents the area of the rectangle O 2z 10 O 2x x 10...

Accounting
1.2K views

June 1 the board of directors of Sunset, Inc declared a $0.60 per share dividend,...

Accounting
1.2K views

please help me by showing the steps and formulas!! Im on my last attempt to...

Accounting
1.2K views

During Heaton Companys first two years of operations, it reported absorption costing net operating income...

Accounting
1.2K views

Janie graduates from high school in 2020 and enrolls in college in the fall. Her...

Accounting
1.2K views

FAN, Inc. has payroll due this week, but the construction company for whom FAN just...

Accounting
1.2K views

Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs...

Finance
1.2K views

When a firm faces hard rationing, the firm will fund only those...