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Cornelius Company had the following information in 2014. $12,000 700 42,000 13,000 43,000 Allowance for uncollectible account 12/31/14 (before adjustment) Collections from customers on account
Cornelius Company had the following information in 2014. $12,000 700 42,000 13,000 43,000 Allowance for uncollectible account 12/31/14 (before adjustment) Collections from customers on account during 2014 If uncollectible accounts are determined by the aging-of-receivables method to be $1,150, the uncollectible-account expense for 2014 would be $450. The balance of the Allowance account after the adjusting entry would be $1,150. The net realizable value of accounts receivable on the December 31, 2014 balance sheet would be OA. $13,150. B. $10,850. O c. $10,150. O D. $12,000
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