SB Inc. had net sales in 2019 of $700,000. At Dec. 31, 2019, the following information was
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SB Inc. had net sales in 2019 of $700,000. At Dec. 31, 2019, the following information was listed which was about the balances in selected accounts before adjusting entries:
Accounts receivable debit balance: $160, 000
Allowance for doubtful accounts credit balance: $1,200
Estimated uncollectable receivable: 2% of net accounting receivable
At Dec. 31, 2019, on the statement of financial position, what is the cash realizable value of the receivables?
Related Book For
Financial and Managerial Accounting
ISBN: 978-1133940593
10th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
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