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Lithotech, Inc had net sales in 2016 of $ 700 comma 000 $700,000 At December? 31, 2016, before adjusting? entries, the balances in selected accounts?
Lithotech, Inc had net sales in 2016 of $ 700 comma 000 $700,000 At December? 31, 2016, before adjusting? entries, the balances in selected accounts? were: accounts receivable $ 124 comma 000 $124,000 ?debit, and allowance for doubtful accounts $ 1 comma 600 $1,600 credit. Lithotech estimates that 5 5?% of its net sales will prove to be uncollectible. What is the cash realizable value of the receivables reported on the statement of financial position at December? 31, 2016?
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