The Stevens Company provided $64,000 of services on account during 2014, its first year in operation. During 2014, Stevens collected $43,500 of cash from its
The Stevens Company provided $64,000 of services on account during 2014, its first year in operation. During 2014, Stevens collected $43,500 of cash from its receivables accounts. The company estimates that it will be unable to collect 3% of its revenues on account. The amount of net realizable value of receivables on the company's 2014 balance sheet was
$22,420.
$20,500.
$1,305.
$18,580.
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Authors: Irvin N. Gleim, William A. Hillison
5th Edition
0917537521, 978-0917537523
