Question 5: On November 30, 2018, Hopkins Agency has accounts receivable of $180.000 and a...
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Question 5: On November 30, 2018, Hopkins Agency has accounts receivable of $180.000 and a credit balance of $1,000 receivables method to determine uncollectible receivables 2% of receivables will not be collected. in Allowance for Doubtful Accounts. Hopkins uses the percentage of . Manogement estimates that What is the cash (net) realizable value on November 30, 2018? a. b. On December 31, the accounts receivable balance is $200,000 and Allowance for Doubtful Accounts is $1,000, What would the balance in Allowance for Doubtful Accounts be after the adjustment on December 31, 2018 to record uncollectibles? 200.000%.02. 3.00c. For what amount would the adjustment be in part (b)? yooo Bad dib opdWhat account would be debited to record the adjustment in part (b) above? Allolcade. During January of the follow year, a customer's $2,000 account is written off. What account would be debited to record this transaction? count 44040 f. What is cash (net) realizable value on January 31, 2019? 480O0 g. On what financial statement will each of the following be reported: Ticee Stoka a) Bad Debt Expense aklance Shtet (b) Allowance for Doubtful Accounts
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