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lara31 [8.8K]
3 years ago
5

The following information is related to December 31, 2016 balances.

Business
1 answer:
Gennadij [26K]3 years ago
3 0

Answer:

$466400 increase.

Explanation:

During 2017,

Sales on account                       $373,000

Collections on account             $212,000

Accounts receivable increased   $161,000

The company wrote off $20,600 in uncollectible accounts, Accounts receivable decreased $20,600

Accounts receivable balance at the end of 2017:

$1,590,000 + $161,000 - $20,600 = $1,730,400

The cash realizable value is the amount of money the company expects to receive from your accounts receivable after deducting the uncollectable amount.

At the end of 2017,

An analysis of outstanding receivable accounts indicated that bad debts should be estimated at $144,000. So, the uncollectable amount was $144,000

The cash realizable value = $1,730,400 - $144,000 = $1,586,400

From at 12/31/16 to 12/31/17, the balance of The cash realizable value increased: $1,586,400 - $1,120,000 = $466,400

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