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The Miller Company earned $115,000 of revenue on account during Year 1. There was no...

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Accounting

The Miller Company earned $115,000 of revenue on account during Year 1. There was no beginning balance in the accounts receivable and allowance accounts. During Year 1, Miller collected $78,000 of cash from its receivables accounts. The company estimates that it will be unable to collect 3% of its sales on account.

What is the net realizable value of Miller's receivables at the end of Year 1?

Multiple Choice

$34,660

$37,000

$33,550

$40,450

Answer & Explanation Solved by verified expert
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