Gowns, Inc. uses the percentage of sales basis to estimate its bad debts. For the year ended December 31, 2014, Gowns' total credit sales are €1,500,000. Management of the company estimates that 1% of credit sales will become uncollectible. The existing balance in the Allowances for Doubtful Accounts is a credit balance of €1,750. The Accounts Receivable balance at December 31, 2014 is €132,000. The cash realizable value of Accounts Receivable reported on the statement of financial position at December 31, 2014 is

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The Answer of Gowns, Inc. uses the percentage of sales basis to estimate its bad debts. For the year ended December 31, 2014, Gowns' total credit sales are €1,500,000. Management of the company estimates that 1% of credit sales will become uncollectible. The existing balance in the Allowances for Doubtful Accounts is a credit balance of €1,750. The Accounts Receivable balance at December 31, 2014 is €132,000. The cash realizable value of Accounts Receivable reported on the statement of financial position at December 31, 2014 is