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jeyben [28]
2 years ago
13

Cullen Company has $235,000 in credit sales, and $164,200 in its Accounts Receivable at the end of the year. The company uses th

e allowance method to account for uncollectible accounts. The Allowance for Uncollectible Accounts has a $7,250 pre-adjustment credit balance. If the company estimates 6% of credit sales will be uncollectible, what will be the Net Realizable Value of its Accounts Receivable at the end of the year?
Business
1 answer:
S_A_V [24]2 years ago
4 0

Answer:

Net Realizablel Value of Account receivable = $142,850

Explanation:

Particulars                                                             Amount

Total Accounts Receivable                                  $164,200

- Pre-adjusted Uncollectable Account balance  $7,250

- Current Year Uncollectable Amount                 <u>$14,100   </u> ($235000*6%)

Net Realizable Value                                            <u>$142,850</u>

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