At the end of its first year of operations, December 31, 2014, Darden Inc. reported the following

Question:

At the end of its first year of operations, December 31, 2014, Darden Inc. reported the following information.

Account receivable, net of allowance for doubtful accounts ....................$944,600

Customer accounts written off as uncollectable during 2014......................28,900

What should be the balance in accounts receivable at December 31, 2014, before subtracting the allowance for doubtful accounts?

5. The following accounts were taken from Bullock Inc.'s trial balance at December 31, 2014.

Net credit sales.........................................$750

Allowance for doubtfuls..............12,800..............

Accounts receiveable...............341,500...............

If doubtful accounts are 2% of accounts receivable, determine the bad debt expense to be reported for 2014 as adjusted.

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...