1. Using the following information:
2. 12/31/19
3. Accounts receivable 2,100,000
4. Allowance for doubtful accounts (180,000)
5. Cash realizable value 1,920,000
7. During 2020, sales on account were 580,000 and collections on account were 344,000. Also during 2020, the company wrote off 32,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at 236,000.
9. The change in the cash realizable value from the balance at 12/31/19 to 12/31/20 was a
10. (2)
11. A.
12. 268,000 increase.
13. B.
14. 236,000 increase.
15. C.
16. 148,000 increase.
17. D.
18. 204,000 increase.
19. 9.
20. Using the following information:
21. 12/31/19
22. Accounts receivable 2,100,000
23. Allowance for doubtful accounts (180,000)
24. Cash realizable value 1,920,000
26. During 2020, sales on account were 580,000 and collections on account were 344,000. Also during 2020, the company wrote off 32,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at 236,000.
28. The change in the cash realizable value from the balance at 12/31/19 to 12/31/20 was a
29. (2)
30. A.
31. 268,000 increase.
32. B.
33. 236,000 increase.
34. C.
35. 148,000 increase.
36. D.
37. 204,000 increase.
38. 9.