The following data concern Wang Corporation for 2017: ?
$$\begin{array} { l r }
\text { Credit sales during the year } & \$ 1,600,000 \
\text { Accounts receivable-December } 31,2017 & 235,000 \
\text { Allowance for doubtful accounts-December 31,2017 } & 18,000 \
\text { Bad debts expense for the year } & 11,000
\end{array}$$ What amount will Wang show on its year-end balance sheet for the net realizable value of its accounts receivable?
A)$253,000
B)$235,000
C)$224,000
D)$217,000

Question

The following data concern Wang Corporation for 2017: ?
$$\begin{array} { l r } 
\text { Credit sales during the year } & \$ 1,600,000 \
\text { Accounts receivable-December } 31,2017 & 235,000 \
\text { Allowance for doubtful accounts-December 31,2017 } & 18,000 \
\text { Bad debts expense for the year } & 11,000
\end{array}$$ What amount will Wang show on its year-end balance sheet for the net realizable value of its accounts receivable?
A)$253,000
B)$235,000
C)$224,000
D)$217,000

Quizplus · Accepted Answer

The Answer of The following data concern Wang Corporation for 2017: ?
$$\begin{array} { l r } 
\text { Credit sales during the year } & \$ 1,600,000 \
\text { Accounts receivable-December } 31,2017 & 235,000 \
\text { Allowance for doubtful accounts-December 31,2017 } & 18,000 \
\text { Bad debts expense for the year } & 11,000
\end{array}$$ What amount will Wang show on its year-end balance sheet for the net realizable value of its accounts receivable?
A)$253,000
B)$235,000
C)$224,000
D)$217,000

The Following Data Concern Wang Corporation for 2017: What Amount Will Wang Show on Its Year-End Balance Sheet