A portion of the current assets section of the December 31, 2023, balance sheet for Carr Co.
Question:
A portion of the current assets section of the December 31, 2023, balance sheet for Carr Co. is presented here:
The company’s accounting records revealed the following information for the year ended December 31, 2023:
Required:
Using the information provided for 2023, calculate the net realizable value of accounts receivable at December 31, 2022, and prepare the appropriate balance sheet presentation for Carr Co., as of that point in time.
Transcribed Image Text:
Accounts receivable . . . . Less: Allowance for bad debts . . $ 80,000 (17,000) $63,000
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