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Net realizable value of accounts receivable

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Before year end adjusting entries, Bass Company's account balances at December 31, 2007, for accounts receivable and the related allowance for uncollectible accounts were $600,000 and $45,000, respectively. An aging of accounts receivable indicated that $62,500 of the December 31 receivables are expected to be uncollectible. The net realizable value of accounts receivable after adjustment is?

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Solution Summary

The solution explains how to calculate the net realizable value of accounts receivable.