An analysis and aging of the accounts receivable of Downs Company at December 31 revealed the following data: 
The cash realizable value of the accounts receivable at December 31, after adjustment, is:
Definitions:
Taxable Income
The amount of an individual's or entity's income used to determine how much tax is owed, calculated as gross income minus deductions and exemptions.
Monthly Salary
The amount of money an employee is paid each month for their job performance, not including bonuses or overtime pay.
Net Pay
The amount of an employee's earnings after all deductions, such as taxes and retirement contributions, have been removed.
FICA Tax
The Federal Insurance Contributions Act (FICA) tax is a payroll tax in the United States that is required from both employers and employees to support Social Security and Medicare programs.
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