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An analysis and aging of the accounts receivable of Raja Company at December 31 reveal the following data:
| Accounts receivable | $800,000 |
| Allowance for doubtful accounts balance before adjustment (credit) | 12,000 |
| Amounts expected to become uncollectible | 65,000 |
How much is the cash (net) realizable value of the accounts receivable at December 31, after adjustment?
| $723,000 |
| $788,000 |
| $735,000 |
| $747,000 |
Expert Answer
| Cash (net) realizable value of the accounts receivable = 800000-65000 = 735000 | |||||||
| Option 3 is correct | |||||||
