1.
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has
a balance of $659,766 and Allowance for Doubtful Accounts has a balance of $18,550. What is
the net realizable value of the accounts receivable?
Select the correct answer.
$18,550
$678,316
$641,216
$659,766
Solution
Answer:
Net realizable value of accounts receivable =Account receivables balance - Allowances for
doubtful accounts
= 659766 -18550 =$641216