Question: During the year, a Company made an entry to write off a $400 uncollectible account using the Allowance Method. Before this entry was made, the
During the year, a Company made an entry to write off a $400 uncollectible account using the Allowance Method. Before this entry was made, the balance in accounts receivable was $6,000 and the balance in the allowance account was $450. Both were normal balance. What is the net realizable value of accounts receivable after the write-off entry?
- A. $6,000
- B. $450
- C. Correct answer not shown
- D. $5,600
- E. $400
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