$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
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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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