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(Solution Download) 43. Analyzing disclosures of accounts receivable. Aracruz Celulose, a Brazilian pulp manufac-...

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43.   Analyzing disclosures of accounts receivable. Aracruz Celulose, a Brazilian pulp manufac- turer, applies U.S. GAAP and reports its results in thousands of U.S. dollars. For the years ended December 31, 2012 and 2011, Aracruz reported the following information pertaining to accounts receivable:

 

 

December 31,

2012

December 31,

2011

Accounts Receivable, Gross. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$365,921

$290,429

Allowance for Doubtful Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4,318

4,634

Write-Offs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

433

25

 

At December 31, 2010, the Allowance for Doubtful Accounts had a balance of    $4,067.

a.   What is the carrying value of accounts receivable on Aracruz?s balance sheets for the years ended December 31, 2012, and December 31, 2011?

b.   What is the total amount that customers owe Aracruz as of December 31, 2012, and December 31, 2011?

c.    What journal entries did Aracruz make in 2012 and 2011 to recognize Bad Debt Expense?

 

 







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