Kentucky Supply Co., which has no beginning balance in its Accounts Receivable and Allowance for Doubtful Accounts, earned $80,000 of revenue on account during 2012. During 2012, the company collected $64,000 of cash from its receivables accounts. Kentucky estimates that will be unable to collect 2% of revenue on account. The amount of net realizable value of receivables on the December 31, 2012 balance.© BrainMass Inc. brainmass.com December 20, 2018, 7:28 am ad1c9bdddf
The solution determines the amount of net realizable value of receivables.