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Business, 04.10.2020 06:01 marmee

Hancock Medical Supply Company, which had no beginning balance in its Accounts Receivable and Allowance for Doubtful Accounts, recognized $160,000 of service revenue on account during Year 1. During Year 1, Hancock collected $128,000 of cash from accounts receivable. 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:

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Hancock Medical Supply Company, which had no beginning balance in its Accounts Receivable and Allowa...
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