Business, 01.10.2019 04:30 yaneth1248
Aportion of the current assets section of the december 31, 2019, balance sheet for gibbs co. is presented here: accounts receivable $ 24,800 less: allowance for bad debts (2,900 ) $ 21,900 the company’s accounting records revealed the following information for the year ended december 31, 2020: sales (all on account) $ 164,000 cash collections from customers 136,000 accounts written off 2,600 bad debts expense (accrued at 12/31/20) 5,600 required: calculate the net realizable value of accounts receivable at december 31, 2020, and prepare the appropriate balance sheet presentation for gibbs co. as of that point in time. (hint: use t-accounts to analyze the accounts receivable and allowance for bad debts accounts.)
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Aportion of the current assets section of the december 31, 2019, balance sheet for gibbs co. is pres...
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