Jones Cement Company has an Accounts Receivable balance on December 31 of $217,000, Sales for the year of $3,633,000, and an Allowance for Doubtful Accounts balance after adjustment of $4,340. The Realizable value of Jones' Accounts Receivables is:
A)$3,416,000
B)$3,411,660
C)$217,000
D)$221,340
E)$212,660

Question

Quizplus · Accepted Answer

The realizable value of Accounts Receivables is calculated by subtracting the Allowance for Doubtful Accounts from the Accounts Receivable balance. Therefore, $217,000 - $4,340 = $212,660.

Jones Cement Company Has an Accounts Receivable Balance on December