Find what net realizable value of the receivables reported

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Reference no: EM132703261

Problem 1: EMILIA, Inc had net sales in 2020 of P1,000,000. At December 31, 2020, before adjusting entries, the balances in selected accounts were: accounts receivable P270,000 debit, and allowance for doubtful accounts P2,700 debit. EMILIA estimates that 3.5% of its net sales will prove to be uncollectible. What is the net realizable value of the receivables reported on the statement of financial position at December 31, 2020?

a.235,000

b.243,100

c.237,700

d.232,300

Reference no: EM132703261

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