The comparative financial statements for the years ended December 31, 2014 and 2013 for Sophia Company reported the following information.
Answer these questions concerning Sophia Company's receivables:
A What is the gross amount of accounts receivable for Sophia at December 31, 2014? Why is this amount different than the amount of receivables shown in the 2014 column of the balance sheet?
B What is the net realizable value of accounts receivable for Sophia at December 31, 2014? What does this amount represent?

Question

The comparative financial statements for the years ended December 31, 2014 and 2013 for Sophia Company reported the following information.
  Answer these questions concerning Sophia Company's receivables:
A What is the gross amount of accounts receivable for Sophia at December 31, 2014? Why is this amount different than the amount of receivables shown in the 2014 column of the balance sheet?
B What is the net realizable value of accounts receivable for Sophia at December 31, 2014? What does this amount represent?

Quizplus · Accepted Answer

The Answer of The comparative financial statements for the years ended December 31, 2014 and 2013 for Sophia Company reported the following information.
  Answer these questions concerning Sophia Company's receivables:
A What is the gross amount of accounts receivable for Sophia at December 31, 2014? Why is this amount different than the amount of receivables shown in the 2014 column of the balance sheet?
B What is the net realizable value of accounts receivable for Sophia at December 31, 2014? What does this amount represent?

The Comparative Financial Statements for the Years Ended December 31