Ruiz Company's Accounts Receivable balance at December 31 was $150,000 and there was a balance of $700 in the Allowance for Uncollectible Accounts. Sales for the year were $900,000. The firm estimates credit losses for the year at 1.5% of sales.
After the appropriate adjusting entry is made for credit losses, what is the net amount of accounts receivable included in the current assets at year-end?

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The net amount of accounts receivable is $135,800. This is calculated by taking the Accounts Receivable balance of $150,000 and subtracting the Allowance for Uncollectible Accounts balance of $700, and then adding the estimated credit losses of $13,500 (1.5% of sales of $900,000).

Ruiz Company's Accounts Receivable Balance at December 31 Was $150,000