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Compute the net realizable value of accounts receivable

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Question - XYZ Company had the following information relating to its accounts receivable:

Accounts receivable at 12/31/2017 10,400,000

Credit sales for 2017 43,200,000

Collections from customers for 2018, excluding recovery 38,000,000

Accounts written off 09/30/2018 1,000,000

Collection of accounts written off in prior year (customer credit was not re-established) 200,000

Estimated uncollectible receivables per aging of receivables at 12/31/2018 1,320,000

Required - On December 31, 2018 compute the net realizable value of accounts receivable?

Reference no: EM132781897

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