During the Year, Liptom Company Made an Entry to Write

question 25

Multiple Choice

During the year, Liptom Company made an entry to write off a $4,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $60,000 and the balance in the allowance account was $4,500 (normal balance) . What is the net realizable value of accounts receivable after the write-off entry?

• A) $60,000
• B) $64,500
• C) $55,500
• D) $51,500