The December 31, 2021 statement of financial position of Mulan Company showed the current receivables with the following details: Trade accounts receivable 186,000 Allowance for doubtful accounts (4,000) Claims against shipper for goods lost in transit last month 6,000 Goods out on consignment at 30% above cost 52,000 Security deposit on lease of warehouse to store some inventories 60,000 TOTAL 300,000 QUESTION: What is the correct current net receivables of Mulan Company at December 31, 2021? O P 240,000 O P 188,000 O P 300,000 O P 248,000

The December 31, 2021 statement of financial position of Mulan Company showed the current receivables with the following details: Trade accounts receivable 186,000 Allowance for doubtful accounts (4,000) Claims against shipper for goods lost in transit last month 6,000 Goods out on consignment at 30% above cost 52,000 Security deposit on lease of warehouse to store some inventories 60,000 TOTAL 300,000 QUESTION: What is the correct current net receivables of Mulan Company at December 31, 2021? O P 240,000 O P 188,000 O P 300,000 O P 248,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 12E: Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120...

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