.ine Company reported an increase of $190,000 in its accounts receivable during

Question

.ine Company reported an increase of $190,000 in its accounts receivable during the year 2005. The company's statement of cash flows for 2005 reported S1 million of cash received from customers. What amount of net sales must Alpine have recorded in 2005? A) S 810,000. B) $1,190,000 C) $1,000,000. D) $ 190,000 21. there is an allowance for doubtful accounts in use, the writing-off of an When uncollectible accounts receivable will: A) Reduce income. B) Reduce an expense. E) Not change income nor total assets. D) Increase total assets. e aging of the accounts receivable approach to estimating uncollectible accounts does not: A) Take into consideration the existing balance in the Allowance for Doubtful Accour B) U tilize a percentage of probable uncollectible accounts for each age group of accounts receivable. C) Stress the relationship between uncollectible accounts expense and net sales. D) Tend to give a reliable estimate of uncollectible accounts because of the consideration given to the collectibility of specific accounts receivable. 23. had accounts receivable of $300,000 and an allowance for doubtful accour $18,500 just before writing off as worthless an account receivable from Arrow Com of $ 1,200. The net realizable values of the accounts receivable before and after the off were: A) $281,500 before and $280,300 after. B) $281,500 before and $281,500 after. 09 800 after

Explanation / Answer

Question 20). Answer :- Option A). $ 810,000.

Explanation :- Net sales that would have been recorded in the year 2005 = 1000000 - 190000

= $ 810,000. (Option A).

Question 21). Answer :- Option C). not change income nor total assets.

Question 22). Answer :- Option C). Stress the relationship between uncollectible accounts expense and net sales.

Question 23). Answer :- Option A). $ 281,500 before and $ 280,300 after.

Explanation :- Net realizable value of accounts receivable before write-off = 300000 - 18500 = $ 281,500.

Net realizable value of accounts receivable after write-off = 281500 - 1200 = $ 280,300.

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