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    schildsplay2k1's Avatar
    schildsplay2k1 Posts: 2, Reputation: 1
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    #1

    Jul 11, 2008, 07:40 PM
    Adjusting Entry and Net Realizable value
    Estimated worth of uncollecttable accounts 3200. Related accounts just prior to entering adjusting entries are below. Prepare adjusting entries and compute net realizable value.



    Accounts Receivable______________________________32000
    Allowance for Bad Debts__________________________________400
    Bad Debt Expense________________________________0
    portaltocann's Avatar
    portaltocann Posts: 3, Reputation: 1
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    #2

    Jul 15, 2008, 11:28 AM
    Quote Originally Posted by schildsplay2k1
    Estimated worth of uncollecttable accounts 3200. Related accounts just prior to entering adjusting entries are below. Prepare adjusting entries and compute net realizable value.



    Accounts Receivable______________________________32000
    Allowance for Bad Debts__________________________________400
    Bad Debt Expense________________________________0
    Is the book value of the uncollectible accounts $3200? If so, credit Allowance for Bad Debts for $2,800 and debit Bad Debt Expense for $2,800.
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