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Business, 14.02.2020 03:26 Anonymousmike

On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $68,200 and $2,300, respectively. During the year Kincaid reported $176,000 of credit sales. Kincaid wrote off $1,550 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $203,300. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.
The net realizable value of receivables appearing on Kincaid's Year 2 balance sheet will amount to:

a. 36,840
b 40900
c. 37590
d. 39350

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On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts...
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