Is this the correct answer? Please explain why or why not. Thank you! MC Qu. 138

Question

Is this the correct answer? Please explain why or why not. Thank you!

MC Qu. 138 Taylor, Inc. had accounts receivable... Taylor, Inc. had accounts receivable of $394,000 and an allowance for doubtful accounts of $21,700 ust before writing off as worthless an account receivable from Burton Company of $1,540. The net realizable value of the accounts receivable before and after the write-off were: Multiple Choice $394,000 before and $392,460 after. $372,300 before and $370,760 after. $415,700 before and $414,160 after. $372,300 before and $372,300 after.

Explanation / Answer

Your answer $372300 before and $372,300 after is correct.

Explanation:-

Accounts receivable 394000 Less: Allowance for doubtful accounts 21700 The net realizable value of the accounts receivable before 372300

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