2. An analysis and aging of Concord Corp. accounts receivable at December 31, 2025, disclosed the following. Amounts estimated to be uncollectible Accounts receivable Allowance for doubtful accounts (per books) $180,710 1,799,500 Net realizable value What is the net amount expected to be collected of Concord's receivables at December 31, 2025? 125,900 1673600

2. An analysis and aging of Concord Corp. accounts receivable at December 31, 2025, disclosed the following. Amounts estimated to be uncollectible Accounts receivable Allowance for doubtful accounts (per books) $180,710 1,799,500 Net realizable value What is the net amount expected to be collected of Concord's receivables at December 31, 2025? 125,900 1673600

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 6MC: Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts...

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Mirror Mart uses the balance sheet aging method to account for uncollectible debt on receivables. The following is the past-due category information for outstanding receivable debt for 2019. To manage earnings more efficiently, Mirror Mart decided to change past-due categories as follows. Complete the following. A. Complete each table by filling in the blanks. B. Determine the difference between total uncollectible. C. Explain how the new total uncollectible amount affects net income and accounts receivable.
Outpost Designs uses the balance sheet aging method to account for uncollectible debt on receivables. The following is the past-due category information for outstanding receivable debt for 2019. To manage earnings more favorably, Outpost Designs decided to change past-due categories as follows. Complete the following. A. Complete each table by filling in the blanks. B. Determine the difference between total uncollectible. C. Explain how the new total uncollectible amount affects net income and accounts receivable.
Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120 in its accounts receivable. Additionally, Karras had a credit balance in its allowance for doubtful accounts of 4,350 and 9,420 at the beginning and end of the year, respectively. During the year, Karras made credit sales of 1,530,000, collected receivables in the amount of 1,445,700, and recorded bad debt expense of 83, 750. Required: Next Level Compute the amount of accounts receivable that Karras wrote off during the year and the amount of accounts receivable at the beginning of the year.
Elegant Universal uses the balance sheet aging method to account for uncollectible debt on receivables. The following is the past-due category information for outstanding receivable debt for 2019. To manage earnings more favorably, Elegant Universal considers changing the past-due categories as follows. A. Complete each table by filling in the blanks. B. Determine the difference between totals uncollectible. C. Describe the categories change effect on net income and accounts receivable.
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An analysis and aging of Eagle Corporation accounts receivable at December 31, 2021 , disclosed the following Amount estimated to be uncollectible P 1,800,000 Accounts receivable 17,500,000 Allowance for doubtful accounts (per books) 1,250,000 What is the net realizable value of Eagle Corporation’s receivables at December 31, 2021? A. P 14,450,000 B. P 16,250,000 C. P 15,700,000 D. P 17,500,000
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5. AA Company prepared an aging of its accounts receivable at December 31, 2022 and determined that the net realizable value of the receivables was P350,000. Additional information is available as follows: Allowance for uncollectible accounts at 1/1/22 – credit balance,P34,000 Accounts written off as uncollectible during 2022, P23,000 Accounts receivable at 12/31/22, P375,000 Uncollectible accounts recovered during 2022, P5,000 Total provisions made during 2022, P12,000 Statement 1: The amount of bad debts expense in 2022 is P9,000. Statement 2: The ending balance of the allowance for uncollectible accounts is P25,000. Group of answer choices Only statement 1 is true Both statements are true Only statement 2 is true Both statements are false
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43. The uncollectible accounts expense for the year ended December 31, 2022 is? After reviewing the aging schedule of its accounts receivable at December 31, 2022, Pacers Company found out that the net realizable value of the receivables at that date was P150,250. Additional information as follows: Accounts receivable at December 31, 2022 Allowance for uncollectible accounts, January 1, 2022 Accounts written off, October 20, 2022 P192,500 28,000 21,000
2. An analysis and aging of Concord Corp. accounts receivable at December 31, 2025, disclosed the following. Amounts estimated to be uncollectible Accounts receivable Allowance for doubtful accounts (per books) PAR MEMBER Net realizable value $ $180,710 What is the net amount expected to be collected of Concord's receivables at December 31, 2025? Credit sales during 2025 Bad debt expense Allowance for doubtful accounts 1/1/25 1,799,500 O Search 125,900 3. Marigold Co. provides for doubtful accounts based on 3% of gross accounts receivable. The following data are av a FF $3,343,800 57,040 16,760