The following information was presented in the balance sheet of Diablo Company as of December 31, 2010: Trade accounts receivable, net of allowance for doubtful accounts of $255,000 $1,700,000 Which one of the following statements is true?

a. Diablo expects that $1,855,000 of accounts receivable will be collected after year end.

b. The balance in the Accounts Receivable account in Diablo's general ledger is $1,700,000.

c. The net realizable value Diablo's accounts receivable is $1,700,000.

d. Diablo expects to collect only $1,445,000 from its customers.

Answer rating: 100% (QA)

The incorrect statement is a The balance in the Accounts Receiv... View the full answer