2013 (It is Pins Companys first year of operations)

The credit sales of Pins Company in 2013 were $700,000. Collections totaled $400,000. Pins Company wrote off specific accounts in the amount of $8,000 in 2013. On December 31, 2013, Pins Company estimated that 5% of all accounts receivable would probably be uncollectible.

2014

The unadjusted balances in selected accounts on December 31, 2014, are as follows:

Accounts Receivable, Gross	Dr. $300,000
Allowance for Doubtful Accounts	Dr. $11,000
Credit Sales	Cr. $800,000

On December 31, 2014, Pins Company carried out an aging of its accounts receivable balances and estimated that the 2014 ending balance of accounts receivable contained $11,000 of probable uncollectibles. That is, the allowance account should have an $11,000 ending credit balance. It made adjusting entries appropriate for this estimate.

a. What was the balance in the Accounts Receivable, Gross, at the end of 2013? Give the amount and whether it was a debit or a credit.

b. What was bad debt expense for 2014?

c. What was the amount of specific accounts receivable written off as being uncollectible during 2014?

d. What were total cash collections in 2014 from customers (for cash sales and collections from customers who had purchased on account in either 2013 or 2014)?

e. What was the net balance of accounts receivable included in the balance sheet asset total for December 31, 2014?