ABC corp. had the following balances on January 1, 2009: Accounts Receivable of $1,800; Allowance for Doubtful
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ABC corp. had the following balances on January 1, 2009: Accounts Receivable of $1,800; Allowance for Doubtful Accounts of $300. During the year, ABC recorded Sales of $6,000, cash collections of $4,600, Bad Debt expense of $400, and $600 of write-offs. The ending balances for 2009 are:
a. Accounts Receivable $2,600; Allowance for Doubtful Accounts $100.
b. Accounts Receivable $2,000; Allowance for Doubtful Accounts $700.
c. Accounts Receivable $2,000; Allowance for Doubtful Accounts $100.
d. Accounts Receivable $2,200; Allowance for Doubtful Accounts $700.
e. All the answers above are wrong.
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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