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What net realizable value of miller receivables at end year

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Problem 1: The Miller Company recognized $121,000 of service revenue earned on account during Year 2. There was no beginning balance in the accounts receivable and allowance accounts. During Year 2, Miller collected $81,000 of cash from accounts receivable. The company estimates that it will be unable to collect 3% of its sales on account. The net realizable value of Miller's receivables at the end of Year 2 was:

A. $36,370
B. $40,000
C. $43,630
D. $37,570

Reference no: EM132954421

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