Using the following information: Accounts receivable Allowance for doubtful accounts Cash realizable value 12/31/19 €2,100,000 (180,000) €1.920,000 During 2020, sales on account were €580,000 and collections on account were €344,000. Also during 2020, the company wrote off €32,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at €236,000. The change in the cash realizable value from the balance at 12/31/19 to 12/31/20 was a O a. €148,000 increase. O b. €236,000 increase O c. €268,000 increase.

Using the following information: Accounts receivable Allowance for doubtful accounts Cash realizable value 12/31/19 €2,100,000 (180,000) €1.920,000 During 2020, sales on account were €580,000 and collections on account were €344,000. Also during 2020, the company wrote off €32,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at €236,000. The change in the cash realizable value from the balance at 12/31/19 to 12/31/20 was a O a. €148,000 increase. O b. €236,000 increase O c. €268,000 increase.

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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