Orr Co. prepared an aging of its accounts receivable at December 31, 20x5, and determined that the net realizable value of the receivables was $241424. Additional information is available as follows:
Allowance for uncollectible accounts at Jan 1, 20x5 - credit balance
$29023
Accounts written off as uncollectible during 20x5
21224
Accounts receivable at December 31, 20x5
268144
Uncollectible accounts recovery during 20x5
3243
For the year ended December 31, 20x5, Orr's bad debt expense would be:
a. $15678
b. $18921
c. $26720
d. $21224

Question

16-12-2022
Business

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Orr Co. prepared an aging of its accounts receivable at December 31, 20x5, and determined that the net realizable value of the receivables was $241424. Additional information is available as follows:
Allowance for uncollectible accounts at Jan 1, 20x5 - credit balance
$29023
Accounts written off as uncollectible during 20x5
21224
Accounts receivable at December 31, 20x5
268144
Uncollectible accounts recovery during 20x5
3243
For the year ended December 31, 20x5, Orr's bad debt expense would be:
a. $15678
b. $18921
c. $26720
d. $21224

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jaiswaljyoti jaiswaljyoti · Answer 1 · 2022-12-21T11:12:27+01:00

Use the net realizable value that has been given to you, The amount of accounts written off (21224) equals $51368 in the total. if possible

Starting balance: $29023

Additionally, uncollectible accounts cost $21224. (plug)

Add: $3243 in expenses related to uncollectible accounts (plug)

Total: 53490 plus 21224 in recovered prior write-offs

Less: The amount of accounts written off (21224) equals $51368 in the total.

What is the accounts receivable net realizable value?

The quantity of debts a corporation anticipates it will begin collecting is represented by the net realizable value for trade receivables. Which one of the mentions at each stage a cost of giving clients credit? Unsecured debt receivables expenditure and documentation costs are two costs associated with providing credit to consumers.

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