Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Adjusting Entry and Net Realizable value (https://www.askmehelpdesk.com/showthread.php?t=236482)

  • Jul 11, 2008, 07:40 PM
    schildsplay2k1
    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
  • Jul 15, 2008, 11:28 AM
    portaltocann
    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.

    • All times are GMT -7. The time now is 01:08 AM.