Business, 10.04.2020 21:09 nanakwameyeb

In the beginning of Year 3 Omega Company had a $52,000 balance in its accounts receivable account and a $1,400 balance in allowance for doubtful accounts. During Year 3, Omega experienced the following events.

(1) Omega earned $220,000 of revenue on account.
(2) Collected $230,000 cash from accounts receivable.
(3) Wrote-off $1,000 of accounts receivable as uncollectible. Omega estimates uncollectible accounts to be 4% of receivables. Based on this information, the amount of net realizable value of receivables shown on the Year 3 balance sheet is?

a. $39,360.
b. $41,000.
c. $42,640.
d. $43,000.

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In the beginning of Year 3 Omega Company had a $52,000 balance in its accounts receivable account an...

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