The following information relates to EAB Ltd.'s accounts receivable: Accounts receivable balance on December 31, 2019...
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The following information relates to EAB Ltd.'s accounts receivable: Accounts receivable balance on December 31, 2019 $2,807,000 Allowance for doubtful accounts balance on December 31, 2019 103,000 Credit sales made in 2020 17,366,000 Collections from customers on account in 2020 16,562,000 Accounts receivable written off in 2020 192,000 Accounts previously written off that were recovered in 2020 (not included in the collections above) 38,000 An aging analysis estimates the uncollectible receivables on December 31, 2020, to be $209,000. The allowance account is to be adjusted accordingly. (a) Calculate the ending balance in Accounts Receivable, as at December 31, 2020. Accounts receivable $ The following information relates to EAB Ltd.'s accounts receivable: Accounts receivable balance on December 31, 2019 $2,807,000 Allowance for doubtful accounts balance on December 31, 2019 103,000 Credit sales made in 2020 17,366,000 Collections from customers on account in 2020 16,562,000 Accounts receivable written off in 2020 192,000 Accounts previously written off that were recovered in 2020 (not included in the collections above) 38,000 An aging analysis estimates the uncollectible receivables on December 31, 2020, to be $209,000. The allowance account is to be adjusted accordingly. (a) Calculate the ending balance in Accounts Receivable, as at December 31, 2020. Accounts receivable $
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Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
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