What is the forward market? An environment that permits the buying and selling of foreign exchange for immediate delivery An environment protecting investors’ expected profits from the risk of exchange rate fluctuations An organizational setting that allows individuals, firms, and banks to trade foreign currencies An environment that permits receiving foreign exchange payments in the weeks or months ahead

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)