If Accounts Receivable for Sally Company is equal to $56,850 and Allowance for Doubtful Accounts is...
If Accounts Receivable for Sally Company is equal to $56,850 and Allowance for Doubtful Accounts is $2,375 at December 31, what is the amount of net receivables shown on Sally's balance sheet of the same date?
a.$59,225
b.$54,475
c.$56,850
d.Cannot be determined from the information given.
Homework Answers
Correct answer------------b.$54,475
Working
| Accounts receivable | $ 56,850.00 |
| Less: Allowance for doubtful accounts | $ 2,375.00 |
| Cash (net) realizable value | $ 54,475.00 |
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