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On January 1,2016,Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $31,000 and $500,respectively.During the year Kincaid reported $72,500 of credit sales.Kincaid wrote off $550 of receivables as uncollectible in 2016.Cash collections of receivables amounted to $74,550.Kincaid estimates that it will be unable to collect one percent (1%)of credit sales.
-The net realizable value of receivables appearing on Kincaid's 2016 balance sheet will amount to:
A)$29,075.
B)$27,725.
C)$28,950.
D)$28,400.

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On January 1,2016,Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $31,000 and $500,respectively.During the year Kincaid reported $72,500 of credit sales.Kincaid wrote off $550 of receivables as uncollectible in 2016.Cash collections of receivables amounted to $74,550.Kincaid estimates that it will be unable to collect one percent (1%)of credit sales.
-The net realizable value of receivables appearing on Kincaid's 2016 balance sheet will amount to:
A)$29,075.
B)$27,725.
C)$28,950.
D)$28,400.

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