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Calculate company net realizable value at december

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Question - At January 1, 2021, Vy6r3 Company had accounts receivable of $230,000 and an allowance for doubtful accounts with a $15,000 credit balance.

During 2021, Vy6r3 Company reported the following information:

Write-offs of uncollectible accounts $ 31,260

Cash collections from credit customers $152,210

Net credit sales $363,560

Recoveries of previously written-off accounts $15,550

Vy6r3 Company estimates bad debt expense using the net credit sales method and has estimated that 5% of its net credit sales will be uncollectible.

Required - Calculate Vy6r3 Company's net realizable value at December 31, 2021.

Reference no: EM132707169

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