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What was net realizable value of accounts receivable

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Problem 1 - On December 31, 2020, FunAccounting Company's Accounts Receivable balance was $10,000 and the balance in the Allowance for Doubtful Accounts was $3,000 and Bad debt expense for 2020 was 1,000. What was net realizable value of accounts receivable as of December 31, 2020?

Problem 2 - The adjusted entry was done as of December 30th, 2020. As a result, prepaid rent account was decreased and correct rent expense was recorded. The mentioned entry had the following effect on the Balance Sheet equation?

Reference no: EM132898174

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