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What is the cash realizable value of the accounts receivable

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Q1. An analysis and aging of the accounts receivable of Skysong, Inc. at December 31 reveal these data:

Accounts receivable $3140000

Allowance for doubtful accounts per books before adjustment (credit) 240000

Amounts expected to become uncollectible 294000

What is the cash realizable value of the accounts receivable at December 31 after adjustment?

A. $2606000

B. $2900000

C. $3140000

D. $2846000

Q2. Bramble Corp. unadjusted trial balance includes the following balances (assume normal balances):

Accounts receivable $1900000

Allowance for doubtful accounts $33500

Bad debts are estimated to be 10% of outstanding receivables. What amount of bad debt expense will the company record?

A. $199500

B. $156500

C. $154370

D. $194130

Reference no: EM132744227

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