Presented below are a series of unrelated situations. For each situation, answer the question that...
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Accounting
Presented below are a series of unrelated situations. For each situation, answer the question that is asked VARIOUS SITUATIONS RELATED TO RECEIVABLES AND BAD DEBT EXPENSE (a) Almond Company's unadjusted trial balance at December 31, 20x2 included the following accounts. Account Debit Credit Allowance For Doubtful Accounts Sales Sales Returns and Allowances S 4,000 1,550,000 100,000 Almond Company estimates its bad debt expense to be 1.5% ofnet sales. Determine its bad debt expense for 20X2. (b) An analysis and aging of Cyan Corp. accounts receivable at December 31, 20X2 disclosed the following (all ledger accounts have normal balances). Amounts Estimated To Be Uncollectible Accounts Receivable Allowance For Doubtful Accounts Per General Ledger S 170,000 1,700,000 150,000 What is the net realizable value of Cyan's receivables at December 31, 20X2
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