Business
Business, 20.12.2019 21:31, cupcake3103670

The following information relates to the beginning of the year:

accounts receivable, $700,000
allowance for doubtful accounts (credit balance), $60,000
cash realizable value, $640,000
during the current year, sales on account were $195,000 and collections on account were $95,000. also during the current year, the company wrote off $11,000 in uncollectible accounts. at year-end, an analysis of outstanding accounts receivable indicated that the allowance for doubtful accounts should have a $72,000 credit balance so the company records the appropriate year-end adjusting entry.
how much did the cash realizable value change during the current year?

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Answers: 3

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The following information relates to the beginning of the year:

accounts receivable, $...

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