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Calculate the net realizable value of xyz company

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Reference no: EM132557272

On August 2, XYZ Company had accounts receivable of $600,000 and an allowance for doubtful accounts with a $22,000 credit balance.

On August 3, XYZ recorded the following two transactions:

  • wrote-off as uncollectible a $4,000 account receivable from a customer
  • received $7,000 from a customer who had purchased goods on account from XYZ Company in July

Question 1: Calculate the net realizable value of XYZ Company's accounts receivable after the above two transactions have been recorded.

Reference no: EM132557272

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