Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, year 2 the accounts receivable balan

On January 1, Year 2 the Accounts Receivable balance was $26,500 and the balance in...

70.2K

Verified Solution

Question

Accounting

image
image
On January 1, Year 2 the Accounts Receivable balance was $26,500 and the balance in the Allowance for Doubtful Accounts was $2,900. On January 15, Year 2 an $850 uncollectible account was written-off. The net realizable value of accounts receivable immediately after the yurite-off is: o o 325,650. o o On January 1 Year 2. Grande Company had a $75,200 balance in the Accounts Receivable account and a $3,800 balance in the Allowance for Doubtful Accounts account. During Year 2. Grande provided $211.000 of service on account. The company collected $264,300 cash from accounts receivable. Uncollectible accounts are estimated to be 1% of sales on account The amount of uncollectible accounts expense recognized on the Year 2 income statement is

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