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The Miller Company earned $119,000 of revenue on account during Year 2. There was no beginning balance in the accounts receivable and allowance...

The Miller Company earned $119,000 of revenue on account during Year 2. There was no beginning balance in the accounts receivable and allowance accounts. During Year 2, Miller collected $80,000 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 Year 2 was:

Multiple Choice

  • $35,430.
  • $39,000.
  • $36,600.
  • $42,570.

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