Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Lindsey Corp. reported the following balances at the end
of the year:
Credit Sales: $195,000
Accounts Receivable: 39,000
Allowance for Uncollectible Accounts before adjustment:
1, 300 debit
Lindsey Corp. estimates that 6% of the credit sales are
uncollectible.
After the year-end adjustment, what is the Net Realizable
Value of Accounts Receivable?
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Transcribed Image Text:Lindsey Corp. reported the following balances at the end of the year: Credit Sales: $195,000 Accounts Receivable: 39,000 Allowance for Uncollectible Accounts before adjustment: 1, 300 debit Lindsey Corp. estimates that 6% of the credit sales are uncollectible. After the year-end adjustment, what is the Net Realizable Value of Accounts Receivable?
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