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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Define the net realizable value of a company’s accounts receivable. How is the net realizable value of accounts receivable reported on the company’s balance sheet?

To determine

Explain the term net realizable value and state the way in which the net realizable of accounts receivable is reported on the balance sheet.

Explanation

Net realizable value:

Net realizable value of accounts receivable is the value of cash expected to receive at the time of collection of accounts receivable.

Reporting of net realizable value:

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