After the december 31, 2019 adjusting journal entries have been posted, sinclair enterprises has the following account balances (all accounts have normal balances) are: account title account balance accounts receivable $159,000 allowance for bad debts $4,600 bad debts expense $8,200 what is the net realizable value as of december 31, 2019?

NET Account Receivable 154,400

Explanation:

Account Receivable 159,000

Allowance for Bad debts (4,600)

NET Account Receivable 154,400

The allowance is the contra-assets account which adjust account receivable.

the bad debt expense is an expense, it doesn't go in the balance sheet.

$154,400

Explanation:

net realizable value = accounts receivable - allowance for bad debts

net realizable value = $159,000 - $4,600 = $154,400

The allowance for bad debts account is a contra asset account that reduces accounts receivables account since it adjusts debts that are not expected to be paid.

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