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Question 4 10 pts Your Company started this year with a normal balance in Accounts Receivable of $50,000 and in the Allowance for Doubtful Accounts
Question 4 10 pts Your Company started this year with a normal balance in Accounts Receivable of $50,000 and in the Allowance for Doubtful Accounts of $ 4,500. During the year it earned $450,000 of revenue on account and $100,000 of cash sales during the year. It collected $350,000 of its receivables during the year. The company estimated that it will be unable to collect $7,500 of its current year's sales on account. What is the net realizable value of the receivables at year end? $138,000 $162,000 $150,000 $238,000 $142,500
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