Refer to the situation described in BE 7-11. If credit sales for the year were $8,200,000 and

Question:

Refer to the situation described in BE 7-11. If credit sales for the year were $8,200,000 and $7,950,000 was collected from credit customers, what was the beginning-of-year balance in BE 7-11
A company's year-end balance in is $2,000,000. The allowance for uncollectible accounts had a beginning-of-year credit balance of $30,000. An aging of at the end of the year indicates a required allowance of $38,000. If bad debt expense for the year was $40,000, what was the amount of bad debts written off during the year?
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...