Coco corp has the following selected account balances as of, Ask an Expert

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Coco Corp. has the following selected account balances as of 12/31/Year5:

Cash $13,500

Accounts receivable $128,000

Allowance for uncollectible accounts $12,000 (NORMAL, credit balance- a negative asset)

Inventory $38,000

The first transaction of Year6 is the write-off of a customers account of $10,000.

What is the net realizable value of accounts receivable after just that first transaction?

A. $106,000

B. $(2,000)

C. $128,000

D. $116,000

E. $118,000

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92021175

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