Cook Co. determined that the net value of its accounts receivable at December 31, 20X4, based on an aging of the receivables, was $235,000. Additional information is as follows:
Allowance for doubtful accounts – 1/1/X4 $ 40,000
Uncollectible accounts written off during 20X4 $ 22,000
Uncollectible accounts recovered during 20X4 $ 8,000
Accounts receivable at 12/31/X4 $ 270,000
Multiple Choice:
$14,000
$22,000
$9,000Correct
$26,000