After the accounts are adjusted at the end of the fiscal year, Accounts Receivable has a balance

Question:

After the accounts are adjusted at the end of the fiscal year, Accounts Receivable has a balance of $298,150 and Allowance for Doubtful Accounts has a negative balance of $31,200. Describe how the Accounts Receivable and the Allowance for Doubtful Accounts are reported on the balance sheet.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...