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    LMN Co.

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    9. The LMN Co. uses the direct write-off method of accounting for uncollectible accounts receivable. The entry to write off an account that has been determined to be uncollectible would be as follows: ________.
    debit Allowance for Doubtful Accounts; credit Accounts Receivable
    debit Sales Returns and Allowance, credit Accounts Receivable
    debit Uncollectible Accounts Expense; credit Allowance for Doubtful Accounts
    debit Accounts Receivable, credit Uncollectible Accounts Expense
    debit Uncollectible Accounts Expense; credit Accounts Receivable

    10. After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $450,000 and Allowance for Doubtful Accounts has a balance of $25,000. What is the net realizable value of the accounts receivable?
    $25,000
    $425,000
    $450,000
    $455,000

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    https://brainmass.com/business/accounting/direct-write-off-method-accounting-uncollectible-214614

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    9. The LMN Co. uses the direct write-off method of accounting for uncollectible accounts receivable. The entry to write off an account that has been determined to be uncollectible would be as follows: ________.
    debit Allowance for Doubtful Accounts; ...

    Solution Summary

    This solution is comprised of a detailed explanation to write the entry to write off an account that has been determined to be uncollectible and answer what is the net realizable value of the accounts receivable.

    $2.19

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