Ellis Company started the year with a $4,600 balance in accounts receivable and a $150 balance in the allowance for doubtful accounts. The company had credit sales of $12,000, collections on accounts receivable of $13,000, and wrote off uncollectible accounts of $200 during the year. The company believes that 2 percent of its credit sales will be uncollectible.
The net realizable value of receivables at the end of the year would be
Question 4 options:
A)
$3,210.
B)
$3,350.
C)
$3,250.
+3
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