The balance sheet of Acworth Pools as of December 31 stated that trade accounts receivable,net of allowance for doubtful accounts of $200,000 was $1,700,000.Which of the following describes Acworth Pool's accounts receivable situation?
A) The company expects to actually collect $1,700,000 of its receivables.
B) The balance in accounts receivable in the company's general ledger is $1,700,000.
C) The net realizable value of the company's receivables is $1,900,000.
D) The company expects collectibles to total $200,000.
Correct Answer:
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