$172,000. Also during 2007 the compa? 12/31/06
Accounts receivable $1,050,000
Allowance (90,000)
Cash realizable value $960,000
During 2007 sales on account were $290,000 and collections on account were $172,000. Also during 2007 the company wrote off $16,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $108,000.
The change in the cash realizable value from the balance at 12/31/06 to 12/31/07 was a
$100,000 increase
$118,000 increase
$84,000 increase
$102,000 increase
Accounts receivable $1,050,000
Allowance (90,000)
Cash realizable value $960,000
During 2007 sales on account were $290,000 and collections on account were $172,000. Also during 2007 the company wrote off $16,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $108,000.
The change in the cash realizable value from the balance at 12/31/06 to 12/31/07 was a
$100,000 increase
$118,000 increase
$84,000 increase
$102,000 increase