Upsidedown Cake Company produces dessert products for sale in grocery stores, but it also has a retail location. At the end of $2023,$ the company had $$3\mathrm{}89,000$ in accounts receivable before netting out $$\mathrm{}9,000$ of allowance for doubtful accounts. At the prior year$-$end, the corresponding amounts were $$3\mathrm{}95,000$ and $\mathrm{}\$8,000,$ respectively. The company$$s sales in $2023$ totalled $$2,450,000,$ of which $$2,200,000$ was sold on credit. The company recorded bad debts expense of $$9,000$ in $2023.$ 

 

Required:

Determine the amount of cash collected from customers for the year $2023$ and the amount of receivables written off in the fiscal year.

Answer rating: 100% (QA)

Okay lets solve this stepbystep Accounts receivable at end of 2023 389000 Al... View the full answer