ABC Company has the following account balances. Calculate the gross accounts receivable balance at the end of July (worth 2 pts) -

Gross accounts receivable (7/1/20) - $100,000

Allowance for uncollectible accounts (7/1/20) - $40,000

Sales during the month - $1,000,000

Sales returns during the month - $350,000

Accounts written off during the month - $10,000

Cash collected from credit sales during the month - $300,000

(*Hint You are calculating GROSS accounting receivable)

A - 440,000

B - 60,000

C - 400,000

D 740,000