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On June18, 2006, Jantz Company had accounts receivable of $600,000 and anallowance for doubtful accounts with a $22,000 credit balance.
On June19, Jantz recorded the following transactions:
1.wrote-off as uncollectible a $4,000 account receivable from acustomer
2. received$7,000 from a customer who had been written off asuncollectible in May
Calculate the net realizable value of Jantz'saccounts receivable after the above two transactions have been recorded.
PM 106: Learning outcomes to be examined in this assessment: Analyse a set of financial statements including Income Statement, Statement of Financial Position and Statement cash flows.
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