Answer Happy

Richmond Hill Company had accounts receivable of $770,000 and anallowance for doubtful accounts of the $23,500 just prior towriting off as worthless an account receivable for Vaughan Companyof $8,000. The net realizable value of accounts receivable as shownby the accounting record before and after the write-off was asfollows:
Multiple Choice
Before $770,000, After $762,000
Before $746,500, After $746,500
Before $738,500, After $762,000
Before $746,500, After $738,500
Before $770,000, After $770,000