Accounts receivableare legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and serviceson credit. It is merely a promise to repay the vendor. To state: If Co. G uses Direct write off method or allowance method for accounting its accounts receivables. Also specify the value of its accounts receivable’s realizable value on 31 s t Dec. 2016.

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Answer 1

Question

Chapter 7, Problem 8DQ

Summary Introduction

Introduction: Accounts receivableare legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and serviceson credit. It is merely a promise to repay the vendor.

To state: If Co. G uses Direct write off method or allowance method for accounting its accounts receivables. Also specify the value of its accounts receivable’s realizable value on 31^s^t Dec. 2016.

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What is the carrying value of accounts receivable as of December 31, 2016?

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Answer 2

Question

Chapter 7, Problem 8DQ

Summary Introduction

Introduction: Accounts receivableare legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and serviceson credit. It is merely a promise to repay the vendor.

To state: If Co. G uses Direct write off method or allowance method for accounting its accounts receivables. Also specify the value of its accounts receivable’s realizable value on 31^s^t Dec. 2016.

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Answer 3

Question

Chapter 7, Problem 8DQ

Summary Introduction

Introduction: Accounts receivableare legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and serviceson credit. It is merely a promise to repay the vendor.

To state: If Co. G uses Direct write off method or allowance method for accounting its accounts receivables. Also specify the value of its accounts receivable’s realizable value on 31^s^t Dec. 2016.

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Answer 4

Question

Chapter 7, Problem 8DQ

Summary Introduction

Introduction: Accounts receivableare legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and serviceson credit. It is merely a promise to repay the vendor.

To state: If Co. G uses Direct write off method or allowance method for accounting its accounts receivables. Also specify the value of its accounts receivable’s realizable value on 31^s^t Dec. 2016.

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Answer 5

Chapter 7, Problem 8DQ

Summary Introduction

Introduction: Accounts receivableare legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and serviceson credit. It is merely a promise to repay the vendor.

To state: If Co. G uses Direct write off method or allowance method for accounting its accounts receivables. Also specify the value of its accounts receivable’s realizable value on 31^s^t Dec. 2016.

Answer 6

Chapter 7, Problem 8DQ

Summary Introduction

Introduction: Accounts receivableare legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and serviceson credit. It is merely a promise to repay the vendor.

To state: If Co. G uses Direct write off method or allowance method for accounting its accounts receivables. Also specify the value of its accounts receivable’s realizable value on 31^s^t Dec. 2016.

Answer 7

Chapter 7, Problem 8DQ

Summary Introduction

Introduction: Accounts receivableare legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and serviceson credit. It is merely a promise to repay the vendor.

To state: If Co. G uses Direct write off method or allowance method for accounting its accounts receivables. Also specify the value of its accounts receivable’s realizable value on 31^s^t Dec. 2016.

Answer 8

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Answer 9

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Answer 11

Ch. 7 - Prob. 1DQ Ch. 7 - Prob. 2DQ Ch. 7 - Prob. 3DQ Ch. 7 - Prob. 4DQ Ch. 7 - Prob. 5DQ Ch. 7 - Prob. 6DQ Ch. 7 - Prob. 7DQ Ch. 7 - Prob. 8DQ Ch. 7 - Prob. 9DQ Ch. 7 - Prob. 10DQ

Solution Summary: The author explains that accounts receivable are legitimately enforceable returns or payments which the organization will get from its clients who have bought its merchandise and services on credit.

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