A companys year-end balance in accounts receivable is $1,800,000. The allowance for uncollectible accounts had a beginning-of-year
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A company’s year-end balance in accounts receivable is $1,800,000. The allowance for uncollectible accounts had a beginning-of-year credit balance of $34,000. An aging of accounts receivable at the end of the year indicates a required allowance of $42,000.
If bad debt expense for the year was $58,000, and if credit sales for the year were $8,700,000, and $7,600,000 was collected from credit customers, what was the beginning-of-year balance in accounts receivable?
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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