The partial balance sheets of Williams iron Works, Inc follow Additional information Net credit sales for 2019 amounted to $9,350,000 Cash collections for 2019 were $930,000 Required a Determine the amount of accounts receivable written off during 2019 b Compute the amount of bad debt expense recor...

Preliminary Analysis Net Accounts Receivable Gross Accounts Recei ...

The partial balance sheets of Williams iron Works, Inc. follow: Additional information: Net credit sales for 2019

Question:

The partial balance sheets of Williams iron Works, Inc. follow:

2018 Description 2019 Accounts Rece vabe, Net of Allowances for Uncollectible Accounts of $362,600 and $225 000 for 2019

Additional information:

Net credit sales for 2019 amounted to $9,350,000.
Cash collections for 2019 were $930,000.

Required

a. Determine the amount of accounts receivable written off during 2019.

b. Compute the amount of bad debt expense recorded for 2019.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...

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