The following information is related to December 31, 2010 balances. ...
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Accounting
The following information is related to December 31, 2010 balances.
Accounts receivable
$1590000
Allowance for doubtful accounts (credit)
(102000)
Cash realizable value
1488000
During 2010 sales on account were $398000 and collections on account were $218000. The company wrote off $20200 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $144000. The change in the cash realizable value from the balance at 12/31/10 to 12/31/10 was
$138000 increase.
$117800 increase.
$140000 increase.
$163800 increase.
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