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How to calculate cash realizable value of the receivables if accounts receivable has credit balance? CK Inc. had net sales in 2020 of $800,000. At
How to calculate cash realizable value of the receivables if accounts receivable has credit balance?
CK Inc. had net sales in 2020 of $800,000. At Dec. 31, 2020, the following information was listed which was about the balances in selected accounts before adjusting entries:
Accounts receivable credit balance: $150, 000
Allowance for doubtful accounts debit balance: $1,500
Estimated uncollectable receivable: 2% of net sales
Q1. At Dec. 31, 2020, on the CK Inc.s statement of financial position, what is the cash realizable value of the receivables?
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