At the beginning of Year 3 Randall Company had a $13,600 balance in its accounts receivable account
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At the beginning of Year 3 Randall Company had a $13,600 balance in its accounts receivable account and a $1,175 balance in allowance for doubtful accounts. During Year 3, Randall experienced the following events.
(1) Randall earned $20,525 of revenue on account.
(2) Collected $17,995 cash from accounts receivable.
(3) Wrote-off $855 of accounts receivable as uncollectible.
Randall estimates uncollectible accounts to be 4% of receivables. Based on this information, the December 31, Year 3 balance in the accounts receivable account is $________
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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