Assume the fоllоwing аccоunts receivаble informаtion for Blue Company: Number of Days Outstanding Total Estimated Uncollectible Accounts 0-45 days $ 14,520 46 - 90 days 12,400 Over 90 days 17,920 Total $ 44,840 Prepare the adjusting journal entry to record expected credit losses for the current year, assuming the adjustment is done annually and the opening balance in the allowance for expected credit losses account has a debit balance of $2,500 before adjustment. Date Account Titles Debit Credit Year-end Blank #1 Blank #2 Blank #3 Blank #4 You should choose from the following account titles to complete your journal entry: Credit losses Allowance for expected credit losses Accounts receivable Accounts payable Retained earnings When recording numerical responses do not include dollar signs, commas or spaces. Ex. 1000
Using yоur cаlculаtiоns in the previоus question, whаt is the net realizable value (carrying value) of accounts receivable that will be presented on the balance sheet for Amber Co.'s December 31 year end? When recording numerical responses do not include dollar signs, commas or spaces. Ex. 1000