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The Following Information Was Presented on the Balance Sheet of Gloria

Question 65

Multiple Choice

The following information was presented on the balance sheet of Gloria Company as of December 31,2017: ?
Trade accounts receivable, net of allowance for  uncollectibles of $100,000 $1,600,000\begin{array}{llr} \text {Trade accounts receivable, net of allowance for } &\\ \text { uncollectibles of \( \$ 100,000 \) } &\$1,600,000\\\end{array}
Which one of the following statements is true?


A) Gloria expects that $1,700,000 of accounts receivable will be collected after year-end.
B) The balance in the Accounts Receivable account in Gloria's general ledger is $1,600,000.
C) The net realizable value of Gloria's accounts receivable is $1,600,000.
D) Gloria expects to collect only $1,500,000 from its customers.

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