Jinx Company provided the following information for the current year in relation toaccounts receivables:Accounts receivable, January 11,300,0005,500,000150,000100,0005,000,00050,000250,000Credit salesSales returnAccounts written offCollections from customersEstimated future sales return on December 31Estimated collectible accounts per aging at year-endWhat amount should be reported as net realizable value of accounts on December31?

Name: Jinx Company provided the following information for the current year
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Description: Jinx Company provided the following information for the current year in relation toaccounts receivables:Accounts receivable, January 11,300,0005,500,000150,000100,0005,000,00050,000250,000Credit salesSales returnAccounts written offCollections from

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Jinx Company provided the following information for the current year in relation to accounts receivables: Accounts receivable, January 1 1,300,000 5,500,000 Credit sales Sales return 150,000 Accounts written off 100,000 Collections from customers 5,000,000 50,000 250,000 What amount should be reported as net realizable value of accounts on December Estimated future sales return on December 31 Estimated collectible accounts per aging at year-end 31?

Jinx Company provided the following information for the current year in relation to accounts receivables: Accounts receivable, January 1 1,300,000 5,500,000 Credit sales Sales return 150,000 Accounts written off 100,000 Collections from customers 5,000,000 50,000 250,000 What amount should be reported as net realizable value of accounts on December Estimated future sales return on December 31 Estimated collectible accounts per aging at year-end 31?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter8: Revenue Recognition, Receivables, And Advances From Customers

Section: Chapter Questions

Problem 23E

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