Swiss Supplies showed the following selected adjusted balances at its December 31, 2019, year-end: Accounts Receivable Dec. 31/19 Balance 540,000 Allowance for Doubtful Accounts 14,400 Dec. 31/19 Balance During 2020, the following selected transactions occurred: Sales totalled $2,960,000, of which 25% were cash sales (cost of sales $1,909,000). Sales returns were $103,000, half regarding credit sales. The returned merchandise was scrapped. An account for $19,000 was recovered. Several accounts were written off: $21,000. Collections from credit customers totalled $1,870,000 (excluding the recovery in (c) above).'

question #1: Show how accounts receivable will appear on the December 31, 2020, balance sheet.

Question #2 What will bad debt expense be on the income statement for the year ended December 31, 2020?

question #3: Show how accounts receivable will appear on the December 31, 2020, balance sheet.

Answer rating: 100% (QA)

lets solve these questions stepbystep Question 1 Show how accounts receivable will appear on the Dec... View the full answer