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3 January, 00:44

Wechsler Company uses the aging of accounts receivable method. The company performed an aging of accounts receivable on December 31 and gathered the following information: Accounts receivable $605,000 Unadjusted Credit balance in Allowance for Doubtful Accounts 84,000 Estimated Uncollectible Accounts Receivable 93,000 What is the amount of Accounts Receivable, Net that will be reported on the balance sheet at December 31?

a. $596,000

b. $512,000

c. $521,000

d. $419,000

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  1. 3 January, 02:01
    0
    The amount of accounts receivable Net = 512000

    so correct option is b. $512,000

    Explanation:

    given data

    Accounts receivable = $605,000

    Doubtful Accounts = $84,000

    Accounts Receivable = $93,000

    to find out

    amount of Accounts Receivable, Net that will be reported on the balance sheet

    solution

    we know bad debt expense is difference between 93,000 and 84,000 i. e 9000

    so new balance of Allowance for doubtful debts = 93,000

    so we can say The amount of accounts receivable Net is

    The amount of accounts receivable Net = 605,000 - 93,000

    The amount of accounts receivable Net = 512000

    so correct option is b. $512,000
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