The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year: What is the net realizable value of the accounts receivable?
A)$1,068,000
B)$1,105,000
C)$1,142,000
D)$1,165,000

Question

The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year:  What is the net realizable value of the accounts receivable?
A)$1,068,000 
B)$1,105,000 
C)$1,142,000 
D)$1,165,000

Quizplus · Accepted Answer

$1,105,000 - $37,000 = $1,068,000

The Following Account Balances Were Extracted from the Accounting Records