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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

Beamon Department Store has an Accounts Receivable balance of $32,500 and an Allowance for Doubtful Accounts balance of $1,100. Determine the net realizable value of Beamon’s accounts receivable.

To determine

Calculate the net realizable value of B’s accounts receivable.

Explanation

Net realizable value: Net realizable value is the net amount of receivables which a business expects to collect from its debtors. Accounts receivable less allowance for doubtful accounts is represented as cash realizable value.

Formula to calculate the net realizable value:

Net realizable value=Accounts receivable-Allowance for doubtful accounts

Calculate the net realizable value of B’s accounts receivable:

Net realizable v

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