Business, 18.02.2020 04:47 blakestuhan

Hancock Medical Supply Co., which had no beginning balance in its Accounts Receivable and Allowance for Doubtful Accounts, earned $86,000 of revenue on account during Year 1. During Year 1, Hancock collected $68,200 of cash from its receivables accounts. The company estimates that it will be unable to collect 1% of revenue on account. The amount of net realizable value of receivables on the December 31, Year 1 balance sheet would be:a. $17, 118. b. $16, 940. c. $17, 800. d. $17, 622.

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Hancock Medical Supply Co., which had no beginning balance in its Accounts Receivable and Allowance...

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