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Home Q & A Board Other Fields Homework Help Business Accounting
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DJSkopes DJSkopes
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5 years ago
Lithotech, Inc had net sales in 2016 of $900,000. At December 31, 2016, before adjusting entries, the balances in selected accounts were: accounts receivable $126,000 debit, and allowance for doubtful accounts $1500 debit. Lithotech estimates that 1% 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) $118,500
B) $117,000
C) $126,000
D) $124,500
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
Authors:
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5 years ago
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DJSkopes Author
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#2
5 years ago
My teacher is very rude and likes to speed his way through a lesson without letting the class ask questions. Thank you for helping me. You're a life saver Slight Smile
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