Seth purchased land for $510,000 one year ago and would have to pay $770,000 to buy an equivalent piece of land now. at which amount should seth report the land on a balance sheet prepared in accordance with gaap (generally accepted accounting principles? )a $510,000b $770,000c either "a" or "b" is an acceptable amount to be reported under gaap (generally accepted accounting principles

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)