The following information is related to december 31, 2016 balances.
•
accoun...
Business, 11.11.2019 20:31 Brucechavez3334
The following information is related to december 31, 2016 balances.
•
accounts receivable
$159
•
allowance for doubtful accounts (credit)
(103000)
•
cash realizable value
112
during 2017 sales on account were $373000 and collections on account were $212000. also, during 2017 the company wrote off $20600 in uncollectible accounts. an analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $144000. the change in the cash realizable value from the balance at 12/31/16 to 12/31/17 was:
$512400 increase.
$489000 increase.
$487000 increase.
$466400 increase.
Answers: 2
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