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Alpha Gym allows services to be on account to loyal customers. The unadjusted Accounts Receivable...

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Accounting

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Alpha Gym allows services to be on account to loyal customers. The unadjusted Accounts Receivable at the end of the year amounts to $120,000 and unadjusted Allowance for doubtfu accounts amounts to P5,000. Service revenue for the year amounted to $1,250,000. If Alpha Gym estimates 2% of revenue as bad debts, what is the net realizable value of the receivables which should be presented in the statement of financial position

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