Business, 24.04.2020 20:01, zachzach28280

Guthrie Corporation reports accounts receivable at a net realizable value of $2,940,000 (gross receivable of $3,000,000 minus allowance for uncollectible accounts of $60,000). Assume that there is an active market for these types of receivables and that the price is 94% of face value. To adjust the receivable's carrying value to fair value, Guthrie would make which of the following entries

A.
DR Unrealized loss on receivables $180,000
CR Fair value adjustment--accounts receivable $180,000

B.
DR Unrealized loss on receivables $120,000
CR Fair value adjustment--accounts receivable $120,000

C.
DR Realized loss on receivables $180,000
CR Accounts receivable $180,000

D.
DR Realized loss on receivables $120,000
CR Accounts receivable $120,000

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 01:30, iamasia06

Claire wants to include animations in her presentation slides. which element of the presentation program’s interface will have the options for animation? claire should use the to include animations in her presentation slides.

Answers: 1

continue

Business, 22.06.2019 20:20, martinezarielys17

As you have noticed, the demand for flip phones has drastically reduced, and there are only a few consumer electronics companies selling them at extremely low prices. also, the current buyers of flip phones are mainly categorized under laggards. which of the following stages of the industry life cycle is the flip phone industry in currently? a. growth stage b. maturity stage c. decline stage d. commercialization stage

Answers: 2

continue

Business, 22.06.2019 23:30, bellamyciana

Part 1: interview at least three different people you know that fall within three age ranges (25-35), (36-50), and (51-70) year of age. ask each person you interview if they have life insurance (term, whole life etc.) and health insurance. ask what factors influenced their decision to buy or not the insurance coverage? report your findings to this assignment. specify who the people were that you spoke with.\

Answers: 3

continue

Business, 23.06.2019 01:00, claudr03

Sarah is an accountant with desires to open her own business. she is looking for office space at a reasonable rate along with internet service. of the conditions that need to be put in place for the entrepreneurial ecosystem, she needs

Answers: 1

continue

Do you know the correct answer?

Guthrie Corporation reports accounts receivable at a net realizable value of $2,940,000 (gross recei...