Your Company started this year with a normal balance in Accounts Receivable of $50,000 nothing...
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Accounting
Your Company started this year with a normal balance in Accounts Receivable of $50,000 nothing in the Allowance for Doubtful Accounts. During the year it earned $450,000 of revenue on account and $100,000 of cash sales during the year. It collected $375,000 of its receivables during the year. The company estimated that it will be unable to collect 5% of its current years sales on account. Calculate the net realizable value of the receivables at year end.
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