The CHS Company has provided the following information: Accounts receivable written-off as uncollectible during the year amounted
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Question:
The CHS Company has provided the following information:
- Accounts receivable written-off as uncollectible during the year amounted to $13,300.
- The accounts receivable balance at the beginning of the year was $330,000.
- The accounts receivable balance at the end of the year was $390,000.
- The allowance for doubtful accounts balance at the beginning of the year was $15,800.
- The allowance for doubtful accounts balance at the end of the year after the recording of bad debt expense was $14,700.
- Credit sales during the year totaled $990,000.
How much cash was received from collections of accounts receivable?
$976,700.
$916,700.
$613,300.
$600,000.
The CHS Company has provided the following information:
- Accounts receivable written-off as uncollectible during the year amounted to $11,800.
- The accounts receivable balance at the beginning of the year was $180,000.
- The accounts receivable balance at the end of the year was $240,000.
- The allowance for doubtful accounts balance at the beginning of the year was $14,300.
- The allowance for doubtful accounts balance at the end of the year after the recording of bad debt expense was $13,200.
- Credit sales during the year totaled $915,000.
How much was CHS Company's bad debt expense?
Multiple Choice
$13,200.
$11,800.
$10,700.
$14,300.
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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