Essay
The following information was taken from the unadjusted trial balance and aging schedule of Diane Company on December 31, 2010. All sales are on account.
Accounts and related balances at December 31, 2010 before adjustment:
Aging Schedule of Accounts Receivable:
If Diane uses the aging schedule of accounts receivable to determine bad debts, what is the net realizable value of accounts receivable on the 2010 financial statements?
a. $46,000
b. $42,260
c. $42,320
d. $30,400
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