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  • AR Exercise

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    Clene Doconte
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    This document discusses reconciling accounts receivable balances between general and subsidiary ledgers after an erroneous payment posting and determining the correct bad debt expense and net realizable value of accounts receivable. It seeks the audited balances of accounts receivable and allowance for doubtful accounts as of December 31 as well as the journal entry needed to reconcile the ledger balances.

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    AR-Exercise

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    This document discusses reconciling accounts receivable balances between general and subsidiary ledgers after an erroneous payment posting and determining the correct bad debt expense and net realizable value of accounts receivable. It seeks the audited balances of accounts receivable and allowance for doubtful accounts as of December 31 as well as the journal entry needed to reconcile the ledger balances.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    14 views2 pages

    AR Exercise

    Uploaded by

    Clene Doconte
    This document discusses reconciling accounts receivable balances between general and subsidiary ledgers after an erroneous payment posting and determining the correct bad debt expense and net realizable value of accounts receivable. It seeks the audited balances of accounts receivable and allowance for doubtful accounts as of December 31 as well as the journal entry needed to reconcile the ledger balances.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    1.

    The erroneous posting of Customer B’s payment to customer E’s account resulted to total
    accounts receivable being:
    2. The correct bad debt expense for the year is
    3. The journal entry to reconcile the balances of the Accounts Receivable general and subsidiary
    ledger after
    4. What is the audited balance of the Accounts Receivable account as of December 31?
    5. What is the correct Allowance for Doubtful Accounts balance as of December 31?
    6. What is the audited net realizable value of the Accounts Receivable as of December 31?

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