Refer to Q5-43. The net receivables on the balance sheet as of December 31, 2018, are ___________.

Question:

Data from Q5-43

Sprague Company uses the aging method to adjust the allowance for uncollectible accounts at the end of the period. At December 31, 2018, the balance of accounts receivable is $250,000 and the allowance for uncollectible accounts has a credit balance of $4,000 (before adjustment). An analysis of accounts receivable produced the following age groups:

Current ...................................... $150,000
60 days past due......................... 90,000
Over 60 days past due................ 10,000
$250,000

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... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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