Compute Net Accounts Receivable for the Following Independent Situations

question 120

Short Answer

Compute net accounts receivable for the following independent situations.
a)Accounts receivable has a balance of $16,000. The allowance for doubtful accounts has a credit balance prior to adjustment of $350. An aging schedule prepared on December 31 reveals $1,250 of uncollectible accounts.
b)Accounts receivable has a balance of $17,500. The allowance for doubtful accounts has a debit balance prior to adjustment of $560. An aging schedule prepared on December 31 reveals $1,500 of uncollectible accounts.
c)Accounts receivable has a balance of $15,500. The allowance for doubtful accounts has a debit balance prior to adjustment of $760. Net credit sales for the year are $35,000 and 3.5% of net credit sales are deemed uncollectible.
d)Accounts receivable has a balance of $20,200. The allowance for doubtful accounts has a credit balance prior to adjustment of $460. Net credit sales for the year are $35,000 and 4.5% of net credit sales are deemed uncollectible.

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Definitions:

Social Determinants

Conditions in the environments where people are born, live, learn, work, play, worship, and age that affect a wide range of health, functioning, and quality-of-life outcomes and risks.

Infant Mortality

The number of deaths of infants under one year old per 1,000 live births, a significant indicator of a nation's health and development.

Stigma

The societal disapproval or discrimination attached to a particular condition, status, or characteristic.

Socially Constructed

A concept or perception developed by society through cultural and social practices, rather than existing inherently.