An analysis of the accounts receivable balance of 8702 on, Ask an Expert

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An analysis of the accounts receivable balance of $8702 on the records of Jorgenson, Inc., on December 31 reveals the following:

Accounts from sales of the last three months (appear to be fully collectible): $7460

Accounts from sales prior to October 1 (of doubtful value): 1312

Accounts known to be worthless: 320

Dishonored notes charged back to customers' accounts: 800

Credit balances in customers' accounts: 1190

(a) what adjustments should be made?

(b) how should the various balances be shown on the balance sheet?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91924390

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