For its first year of operations, a company reported total credit sales of $1,120,000. The...
50.1K
Verified Solution
Link Copied!
Question
Accounting
For its first year of operations, a company reported total credit sales of $1,120,000. The Accounts receivable balance at year end was $190,000. The bad debts are estimated to equal to 1.5% of credit sales. What is the net realizable value of the accounts receivable at the end of the year? ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS OR OTHER DISCRIPTIONS.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
