Question

At the close of its first year of operations on December 31, 2014, Clemens Company had accounts receivable of $300,000, which were net of the related allowance for doubtful accounts.
During 2014, the company had charges to the provision for bad debts of $25,000 and wrote off accounts receivable of $15,000 that it deemed to be uncollectible.

Required:
What should Clemens Company report on its balance sheet at December 31, 2014, as accounts receivable before the allowance for doubtful accounts?



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  • CreatedSeptember 10, 2014
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