What is the net realizable value of account receivables? After the accounts are adjusted and closed at the endof the year, accounts receivable have a final balanceof $340,000 and an estimate of $51,000 is estimatedfor doubtful accounts.What is the net realizable value of accountsreceivable?a. $391,000b. $289,000c. $340,000d. $51,000

Step 1: Define Accounts ReceivableThe accrual basis suggests that when revenue is earned but not…

Answered: After the accounts are adjusted and…

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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After the accounts are adjusted and closed at the end of the year, accounts receivable have a final balance of $340,000 and an estimate of $51,000 is estimated for doubtful accounts. What is the net realizable value of accounts receivable? a. $391,000 b. $289,000 c. $340,000 d. $51,000