Part 1

  • Answer the following question: What is meant by the net realizable value for accounts receivable?
  • Answer the following question: What is aging of accounts receivable, and how is it used to account for uncollectible accounts?
  • Answer the following question: How is the accounts receivable turnover computed? What information does this ratio provide?
  • Answer the following question: Describe what is meant by the term “goodwill.”

Part 2

  • Exercise 7-13A page 395
  • Problem 8-34A page 460
  • Exercise 8-9A page 451
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