Core Systems had a beginning accounts receivable balance of $4,000 and no allowance for doubtful accounts. During the year, the company made $30,000 in sales on account and collected $26,000. Core estimates that 3% of credit sales will be uncollectible. What is the net realizable value of accounts receivable at year-end?

Core Systems had a beginning accounts receivable balance of $4,000 and no allowance for doubtful accounts. During the year, the company made $30,000 in sales on account and collected $26,000. Core estimates that 3% of credit sales will be uncollectible. What is the net realizable value of accounts receivable at year-end?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 2CE: Tonis Tech Shop has total credit sales for the year of 170,000 and estimates that 3% of its credit...

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