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Lithotech, Inc had net sales in 2016 of $600,000 At December 31, 2016, before adjusting entries, the ...

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Lithotech, Inc had net sales in 2016 of $600,000 At December 31, 2016, before adjusting entries, the ...

Lithotech, Inc had net sales in 2016 of $600,000 At December 31, 2016, before adjusting entries, the balances in selected accounts were: accounts receivable $129,000 debit, and allowance for doubtful accounts $2000 credit. Lithotech estimates that 5% of its net sales will prove to be uncollectible. What is the cash realizable value of the receivables reported on the statement of financial position at December 31, 2016?
A) $97,000
B) $99,000
C) $129,000
D) $127,000

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Intermediate Accounting

Edition: 1^st

Authors: Gordon, Raedy, Sannella

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More solutions for this book are available here

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