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Cullen Company has $235,000 in credit sales, and $164,200 in its Accounts Receivable at the end of the year. The company uses the allowance method
Cullen Company has $235,000 in credit sales, and $164,200 in its Accounts Receivable at the end of the year. The company uses the allowance method to account for uncollectible accounts. The Allowance for Uncollectible Accounts has a $7,250 pre-adjustment credit balance. If the company estimates 6% of credit sales will be uncollectible, what will be the Net Realizable Value of its Accounts Receivable at the end of the year? $147.750 O $140,500 O $150,100 O $142,850
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