The following account balances were extracted from the accounting records of thomas corporation at the end of the year: accounts receivable $ 1 comma 104 comma 000 allowance for uncollectible accounts (credit) $ 37 comma 000 expense $ 62 comma 000 what is the net realizable value of the accounts receivable?

net realizable value of the accounts receivable is $1,067,000

Explanation:

given data

Accounts Receivable = $ 1,104,000

Accounts (Credit) = $37,000

Account Expense = $62,000

to find out

net realizable value of the accounts receivable

solution

we know here in accounting records Accounts Receivable , Accounts (Credit) and Account Expense so

net realizable value of the accounts receivable will be

net realizable value = Accounts Receivable - Accounts (Credit)

put here value

net realizable value = 1104000 - 37000

net realizable value = 1067000

so net realizable value of the accounts receivable is $1,067,000

answer; foreign exchange transaction;