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College Accounting, Chapters 1-27 ...

22nd Edition
James A. Heintz + 1 other
Publisher: Cengage Learning
ISBN: 9781305666160

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BuyFindarrow_forward

College Accounting, Chapters 1-27 ...

22nd Edition
James A. Heintz + 1 other
Publisher: Cengage Learning
ISBN: 9781305666160
Chapter 16, Problem 1CE
Textbook Problem
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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 of Solution

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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Chapter 16 Solutions

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
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