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16 August, 06:57

After the December 31, 2019 adjusting journal entries have been posted, Sinclair Enterprises has the following account balances (all accounts have normal balances) are: Account Title Account Balance Accounts Receivable $159,000 Allowance for Bad Debts $4,600 Bad Debts Expense $8,200 What is the net realizable value as of December 31, 2019?

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  1. 16 August, 07:09
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    NET Account Receivable 154,400

    Explanation:

    Account Receivable 159,000

    Allowance for Bad debts (4,600)

    NET Account Receivable 154,400

    The allowance is the contra-assets account which adjust account receivable.

    the bad debt expense is an expense, it doesn't go in the balance sheet.
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