Answer the following questions:
1.What is meant by the net realizable value for accounts receivable?
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2.What is aging of accounts receivable, and how is it used to account for uncollectible accounts?
3.How is the accounts receivable turnover computed? What information does this ratio provide?
4.Describe what is meant by the term “goodwill.”
Complete the following:
- Exercise 7-13A on page. 391
- Problem 8-34A on page. 456
- Exercise 8-9A on page. 447