Before year-end adjusting entries, Dunn Company's account balances at December 31, 2010, for accounts receivable and the related allowance for uncollectible accounts were $600,000 and $45,000, respectively.
An aging of accounts receivable indicated that $62,500 of the December 31 receivables are expected to be uncollectible. The cash realizable value of accounts receivable after adjustment is:
a. $582,500. b. $537,500. c. $492,500. d. $555,000.
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