Question: Exercise 7-3A (Algo) Analyzing account balances for A company using the allowance method of accounting for uncollectible accounts LO 7-1 The following account balances
Exercise 7-3A (Algo) Analyzing account balances for A company using the allowance method of accounting for uncollectible accounts LO 7-1 The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful accounts Beginning Balance $ 2,810 Ending Balance $ 3,885 100 194 During the accounting period, Ourso recorded $11,100 of sales revenue on account. The company also wrote off a $195 account receivable. Required: 1. Determine the amount of cash collected from receivables. 2. Determine the amount of uncollectible accounts expense recognized during the period. a. Collections of accounts receivable b. Uncollectible accounts expense
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