how to calculate carrying aamount of receivables explain with formula? ...

90.2K

Verified Solution

Question

Accounting

how to calculate carrying aamount of receivables explain with formula?
image
image
Richetti Ltd. has an Accounts Receivable amount of $392,700 and an unadjusted credit balance in Allowance for Doubtful Accounts of $8.000 at March 31. The company's accounts receivable and percentage estimates of its uncollectible accounts are as follows: Number of Days Estimated Percentage Outstanding Accounts Receivable Uncollectible 0-30 $ 283.000 31-60 46.600 10 61-90 36.000 30% Over 90 27.100 505 Total 5392.700 (c) x Your answer is incorrect What is the carrying amount of the receivables at March 31? Carrying amount $ 366030

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students