Before adjusting entries, Dormont Corp's accounts receivable and allowance for doubtful accounts are $800,000 and $7,000 (credit balance), respectively. Using an aging schedule of accounts receivable, it is determined that $44,000 of the accounts receivable would probably be uncollectible. Calculate the net realizable value of Dormont's receivables at year end.

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The Answer of Before adjusting entries, Dormont Corp's accounts receivable and allowance for doubtful accounts are $800,000 and $7,000 (credit balance), respectively. Using an aging schedule of accounts receivable, it is determined that $44,000 of the accounts receivable would probably be uncollectible. Calculate the net realizable value of Dormont's receivables at year end.

Before Adjusting Entries, Dormont Corp's Accounts Receivable and Allowance for Doubtful