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On September 1, Walker Company had the following account balances: Accounts Receivable, $77,400; Allowance for Uncollectible Accounts, $4,010. On September 5, Walker receives $350 from
On September 1, Walker Company had the following account balances: Accounts Receivable, $77,400; Allowance for Uncollectible Accounts, $4,010. On September 5, Walker receives $350 from Bryant Company. Bryant Company's account of $1,280 had been previously written off. Walker does not believe the remaining amount due from Bryant Company will be collected. Required: (a) What is the net realizable value (NRV) of the accounts receivable on September 1 ? (b) What is the NRV on September 5? 1. Net realizable value on September 1 2. Net realizable value on September 5
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