. L. Dearborn owns a department store that has a $45,000 balance in Accounts Receivable and a $3,000 credit balance in Allowance for Doubtful Accounts. 1. Determine the net realizable value of the accounts receivable. 2. Assume that an account receivable in the amount of $460 was written off using the allowance method. Determine the net realizable value of the accounts receivable after the write-off.

. L. Dearborn owns a department store that has a $45,000 balance in Accounts Receivable and a $3,000 credit balance in Allowance for Doubtful Accounts. 1. Determine the net realizable value of the accounts receivable. 2. Assume that an account receivable in the amount of $460 was written off using the allowance method. Determine the net realizable value of the accounts receivable after the write-off.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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