Johnson has Accounts Receivable of $100,000 and Allowance for Doubtful Accounts of $5,000; its sales this year were $300,000. The cash realizable value of the receivables is:
A. $200,000
B. $100,000
C. $95,000
D. None of these
Answer:C
Johnson has Accounts Receivable of $100,000 and Allowance for Doubtful Accounts of $5,000; its sales this year were $300,000. The cash realizable value of the receivables is:
A. $200,000 B. $100,000 C. $95,000 D. None of these