A Company Has the Following Balances on December 31,2012,after Year-End

question 118

Short Answer

A company has the following balances on December 31,2012,after year-end adjustments: Accounts Receivable = $62,000; Allowance for Uncollectible Accounts = $6,000.Calculate the net realizable value of accounts receivable.

---

Definitions:

EP Lubes

Extreme Pressure Lubricants designed to provide protection under high pressure and temperature conditions, often used in gears and bearings.

Hypoid Gearing

A type of gear configuration in which the gear axes do not intersect, commonly used in automotive differentials to transfer power from the driveshaft to the wheels.

Drive Axle Tires

Tires mounted on the drive axle of a vehicle, designed to provide traction and transmit power from the drivetrain to the ground.

Traction

The frictional force between a vehicle's tires and the surface it is on, allowing the vehicle to move forward or stop.