Exercise 7-3A Analyzing account balances for & company using the allamgnes merin

of accounting for uncollectible accounts

The following account balances come from the records of Chase & ompany:

wrote off a $150 account receivable.

During the accounting period, Ourso recorded $14,000 of sales revenue on account. The company also

Required

a. Determine the amount of cash collected from receivables.

b. Determine the amount of uncollectible accounts expense recognized during the period.

Exercise 7-3A Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts the following account balances come from the records of Ourso Company: Daring the accounting period, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account receivable. Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period. Exercise 7-3A