6. A company is preparing to produce a set of financial statements. The balance sheet being...

 

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6. A company is preparing to produce a set of financial statements. The balance sheet being created shows a total for assets of $900,000. Just prior to the end of the year, one account receivable of $2,000 is determined to be uncollectible and is written off, Another receivable for $5,000 is collected and an additional credit sale for the sale of a service of $4,000 is made. No other event or adjustment is made. What should the company now report as the total of its assets after recording these final events? 6. A company is preparing to produce a set of financial statements. The balance sheet being created shows a total for assets of $900,000. Just prior to the end of the year, one account receivable of $2,000 is determined to be uncollectible and is written off, Another receivable for $5,000 is collected and an additional credit sale for the sale of a service of $4,000 is made. No other event or adjustment is made. What should the company now report as the total of its assets after recording these final events?

Answer rating: 100% (QA)

Total assets before adjustment Adjustments 1 Accoun... View the full answer