Business, 14.07.2020 16:01 cantuj723

A portion of the current assets section of the December 31, 2014, balance sheet for Carr Co. is presented here: Accounts receivable $ 42,000 Less: Allowance for bad debts (7,400 ) $ 34,600 The company's accounting records revealed the following information for the year ended December 31, 2014: Sales (all on account) $401,000 Cash collections from customers 414,000 Accounts written off 18,000 Bad debts expense (accrued at 12/31/14) 13,800 Required: Using the information provided for 2014, calculate the net realizable value of accounts receivable at December 31, 2013, and prepare the appropriate balance sheet presentation for Carr Co., as of that point in time. (Amounts to be deducted should be indicated with minus sign.)

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A portion of the current assets section of the December 31, 2014, balance sheet for Carr Co. is pres...

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