question archive 1) The following data were taken from the records of Infra Company for the year ended De
1) The following data were taken from the records of Infra Company for the year ended De
Subject:AccountingPrice: Bought3
1) The following data were taken from the records of Infra Company for the year ended De. 31, 2016: Sales on account 3,600,000 Notes collected to settle accounts 400.000 Provision for doubtful accounts 90,000 Accounts receivable proven to be worthless 25,000 Purchases on accounts 3,900,000 Payments to creditors 3,200,000 Discounts allowed by creditor 260,000 Merchandise returned by the customer 15,000 Collections received to settle the accounts 2,450,000 Notes given to creditors in settlement of accounts 250,000 Merchandise returned to suppliers 20.000 Payments on notes payable 100,000 Discounts taken by the customers 40.000 Collection received in settlement of notes 180,000 What is the net realizable value of the accounts receivable on Dec. 31? 605,000
