$525,000 (40,000) $485,000 Accounts receivable Allowance Cash realizable value During 2020, sales on account were $145,000 and collections on account were $100,000. Also durir 2020, the company wrote off $5,000 in uncollectible accounts. An analysis of outstanding receivab accounts at year end indicated that uncollectible accounts should be estimated at $45,000. . The change in the cash realizable value from the balance at 12/31/19 to 12/31/20 was an increase e decrease of bow much? (Indicate whether increase or decrease)
$525,000 (40,000) $485,000 Accounts receivable Allowance Cash realizable value During 2020, sales on account were $145,000 and collections on account were $100,000. Also durir 2020, the company wrote off $5,000 in uncollectible accounts. An analysis of outstanding receivab accounts at year end indicated that uncollectible accounts should be estimated at $45,000. . The change in the cash realizable value from the balance at 12/31/19 to 12/31/20 was an increase e decrease of bow much? (Indicate whether increase or decrease)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
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Please Answer the given, thanks!
![12/31/19
$525,000
(40,000)
$485,000
Accounts receivable
Allowance
Cash realizable value
During 2020, sales on account were $145,000 and collections on account were $100,000. Also during
2020, the company wrote off $5,000 in uncollectible accounts. An analysis of outstanding receivable
accounts at year end indicated that uncollectible accounts should be estimated at $45,000.
18. The change in the cash realizable value from the balance at 12/31/19 to 12/31/20 was an increase or
decrease of how much? (Indicate whether increase or decrease)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e10c9f6-26eb-4de2-9d67-77d7505937ce%2Fa6e706f4-4275-4d53-887a-36cab8d9ff69%2Fma9p14_processed.png&w=3840&q=75)
Transcribed Image Text:12/31/19
$525,000
(40,000)
$485,000
Accounts receivable
Allowance
Cash realizable value
During 2020, sales on account were $145,000 and collections on account were $100,000. Also during
2020, the company wrote off $5,000 in uncollectible accounts. An analysis of outstanding receivable
accounts at year end indicated that uncollectible accounts should be estimated at $45,000.
18. The change in the cash realizable value from the balance at 12/31/19 to 12/31/20 was an increase or
decrease of how much? (Indicate whether increase or decrease)
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