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What should Highway report as the net realizable value

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Question - Highway Corporation had a 1/1/ 18 balance in the Allowance for Doubtful Accounts of $14,700 and a balance in Accounts Receivable of $278,000. Highway estimates that 5% of total credit sales will prove to be uncollectible. The company also reported the following:

Credit Sales $325,000

Cash collections 268,400

Write-offs 8,600

Recoveries 2,500

Required - What should Highway report as the net realizable value of accounts receivable at 12/31/18?

Reference no: EM133090210

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