Accounts receivable are usually valued on the balance sheet at current value-namely, the amount owing from customers

Question:

are usually valued on the at current value-namely, the amount owing from customers less an allowance for uncollectible accounts. Does this violate the historical cost basis of accounting? Explain.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...