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    Jproject's Avatar
    Jproject Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Nov 14, 2009, 03:31 PM
    How to find net realizable value for year-end accounts Recievable
    So first I have to find the year end accs. Recievable...

    I have:
    beginning A/R
    allowance for doubtful accounts
    sales (w/ 80% on credit)
    collection
    and write offs


    So I know I take begin. A/R but I'm not sure what I'm supposed to add or subtract from there... I thought I was supposed to add the 80% of sales from credit and then subtract write-offs but that doesn't seem to work.

    After I find that I'm supposed to find the net realizable value for this year end accounts recievable, (this is what I have to work w/):

    Allowance for doubtful accs: $-18900 & Bad debt expense: $-18900 as well as the things I have listed above. I thought you were suppose to do: Acc Recievable- Allowance for Doubtful accounts, but I don't even have the ending accs recievable...


    Please help!
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Nov 15, 2009, 12:52 AM
    So I know I take begin. A/R but I'm not sure what I'm supposed to add or subtract from there... I thought I was supposed to add the 80% of sales from credit and then subtract write-offs but that doesn't seem to work.
    You forgot about subtracting collections.

    Allowance for doubtful accs: $-18900 & Bad debt expense: $-18900 as well as the things I have listed above. I thought you were suppose to do: Acc Recievable- Allowance for Doubtful accounts, but I don't even have the ending accs recievable...
    It'll help once you have that A/R balance. But the 18900 is also just the entry itself. What about balancing that account also? Write off's come out of there as well as receivables, and you also had a beginning balance to account for.
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