The Miller Company earned $190,000 of revenue on account during 2016. There was no beginning...
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Accounting
The Miller Company earned $190,000 of revenue on account during 2016. There was no beginning balance in the accounts receivable and allowance accounts. During 2016 Miller collected $136,000 of cash from its receivables accounts. The company estimates that it will be unable to collect 3% of its sales on account. The net realizable value of Miller's receivables at the end of 2016 was
$54,000.
$48,300.
$49,920.
$59,700.
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