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accounts receivable for 2004: Accounts receivable, 1/1/04 $650,000 Credit sales for 2004 2,700,000 Sales returns for 2004 75,000 Accounts written off during 2004 40,000 Collections
accounts receivable for 2004:
Accounts receivable, 1/1/04 | $650,000 | |
Credit sales for 2004 | 2,700,000 | |
Sales returns for 2004 | 75,000 | |
Accounts written off during 2004 | 40,000 | |
Collections from customers during 2004 | 2,150,000 | |
Estimated future sales returns at 12/31/04 | 50,000 | |
Estimated uncollectible accounts at 12/31/04 | 110,000 |
What amount should report for accounts receivable, before allowances for sales returns and uncollectible accounts, on December 31, 2004?
$925,000
$1,125,000
$1,085,000
$1,200,000
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