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  3. the breakfast company recognized $127,000 of servi

The Breakfast Company recognized $127,000 of service revenue earned on account during Year 2. There...

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Accounting

The Breakfast Company recognized $127,000 of service revenue earned on account during Year 2. There was no beginning balance in the accounts receivable and allowance accounts. During Year 2, Breakfast collected $84,000 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 Breakfast's receivables at the end of Year 2 was:
$43,000.
$46,810.
$40,480.
$39,190.
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