Vivian, Inc had net sales in 2015 of 700,000. At December 31, 2015, before adjusting...
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Vivian, Inc had net sales in 2015 of 700,000. At December 31, 2015, before adjusting entries, the balances in selected accounts were: accounts receivable 125,000 debit, and allowance for doubtful accounts 1,200 credit. Vivian estimates that 2% of its net sales will prove to be uncollectable. What is the cash realizable value of the receivables reported on the statement of financial position at December 31, 2015? a. 112,200 b. 122,500 c. 111,000 d. 109,800
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