The general ledger of Brookfield Solutions shows the following balances: ⚫ Accounts Receivable: $150,000 • ⚫ Allowance for Doubtful Accounts: $8,000 (credit balance) Sales: $1,500,000 If the company wrote off an account as uncollectible for $1,200, what would be the net realizable value (NRV) of accounts receivable after the write-off?
The general ledger of Brookfield Solutions shows the following balances: ⚫ Accounts Receivable: $150,000 • ⚫ Allowance for Doubtful Accounts: $8,000 (credit balance) Sales: $1,500,000 If the company wrote off an account as uncollectible for $1,200, what would be the net realizable value (NRV) of accounts receivable after the write-off?
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 1CE
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Transcribed Image Text:The general ledger of Brookfield Solutions shows the following balances:
⚫ Accounts Receivable: $150,000
•
⚫ Allowance for Doubtful Accounts: $8,000 (credit balance)
Sales: $1,500,000
If the company wrote off an account as uncollectible for $1,200, what would be the
net realizable value (NRV) of accounts receivable after the write-off?
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