Reference no: EM132617793
ABC Corporation had the following information relating to its accounts receivable:
Accounts receivable, December 31, 2016 1,950,000
Credit Sales for 2017 8,100,000
Collections from customers for 2017 7,125,000
Accounts written off, August 30, 2017 187,500
Estimated uncollectible receivables per aging of receivables, December 31, 2017 247,500
Problem 1: In the December 31, 2017, statement of financial position, what is the amortized cost of the receivable?
A. 2,737,500
B. ANSWER NOT GIVEN
C. 2,490,000
D. 2,775,000
E. 2,925,000
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