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Lily Corporation began 2019 with a $14,000 balance in accounts receivable and a $400 balance in the allowance for doubtful accounts. The company had credit

Lily Corporation began 2019 with a $14,000 balance in accounts receivable and a $400 balance in the allowance for doubtful accounts. The company had credit sales (sales on account) of $46,000, collections on accounts receivable of $29,000, and wrote off uncollectible accounts of $250 during 2019. The company uses the allowance method and estimates that 4% of its outstanding accounts receivable balance will be uncollectible.

Assuming no other entries were recorded to uncollectible accounts expense during 2019, the amount of the adjustment to uncollectible accounts expense appearing on the 2019 income statement would be?

The net realizable value of receivables at the end of the year would be?

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