Question

At the beginning of the current period, Marin Corp. had balances in Accounts Receivable of $213,500 and in Allowance for Doubtful Accounts of $8,500 (credit). During the period, it had net credit sales of $878,100 and collections of $704,650. It wrote off as uncollectible accounts receivable of $7,543. However, a $3,093 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24,950 at the end of the period. (Omit cost of goods sold entries.)

Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts.

What is the net realizable value of the receivables at the end of the period?

Net realizable value of the receivables at the end of the period

$ Enter a dollar amount

Answer 1

Accounts Receivable
Beg. Bal.	213500
Net credit sales	878100	704650	Collections
Reinstatement of write off	3093	7543	Write-offs
		3093	Collection of write-off
End. Bal.	379407

Accounts receivable	379407
Less: Allowance for doubtful accounts	24950
Net realizable value $	354457

Net realizable value of the receivables at the end of the period: $354,457