An Analysis and Aging of the Accounts Receivable of Watts

question 169

Multiple Choice

An analysis and aging of the accounts receivable of Watts Company at December 31 reveal these data: $\begin{array} { l } \text {Accounts receivable }&\$3,200,000\\ \text { Allowance for doubtful accounts per books before adjustment}&200,000\\ \text { Amounts expected to become uncollectible}&260,000\\\end{array}$
What is the cash realizable value of the accounts receivable at December 31 after adjustment?

Be aware of current technological trends and their societal implications, such as smartphone ownership.

Evaluate the role of media users in processing and sharing information.

Identify the dynamic interplay between structure and agency in shaping social life.

Recognize the collaborative dynamics between elements such as technology, social world, and media in promoting social causes.

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Definitions:

Intangible Assets

Non-physical assets such as patents, copyrights, trademarks, software, and goodwill that have value to a business.

Goodwill

The excess value of the purchase price over the fair market value of the assets acquired and liabilities assumed in a business combination.

Recoverable Amount

The higher of an asset's fair value less costs to sell and its value in use. It's the estimated amount an entity can obtain from an asset's use or sale, covering its carrying amount.

Carrying Amount

The value at which an asset is recognized on the balance sheet after deducting accumulated depreciation and impairment charges.