Problem:
On January 1, 2014, Howe Company's Accounts Receivable balance was $11,300 and the balance in the Allowance for Doubtful Accounts was $565. On January 5, 2014, a $330 uncollectible account was written-off as uncollectible. .
Required:
Question: Assuming that no other transactions related to accounts receivable had occurred, the net realizable value of accounts receivable immediately after the write-off was
- 11,300
- 10,970
- 10,735
- 10,405
Note: Be sure to show how you arrived at your answer.