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Suppose Fine Chocolates Co. estimates bad debt under the aging method. Before adjusting entries at year end, the following accounts had these normal balances: Accounts
Suppose Fine Chocolates Co. estimates bad debt under the aging method. Before adjusting entries at year end, the following accounts had these normal balances:
Accounts Receivable: $4,000 Allowance for Uncollectible Accounts: $500 Sales Revenue: $34,000
Per the aging schedule, uncollectible accounts is estimated at $950. After the company records the adjusting entry for bad debt, what is the net realizable value of accounts receivable, also known as A/R, net?
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