The Miller Company earned $190,000 of revenue on account during
2016. There was no beginning balance in the accounts receivable and
allowance accounts. During 2016 Miller collected $136,000 of cash
from its receivables accounts. The company estimates that it will
be unable to collect 3% of its sales on account.
The net realizable value of Miller's receivables at the end of 2016
was
$54,000.
$48,300.
$49,920.
$59,700.
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