Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Accounts receivable written-off as uncollectible during the year amounted to $12,700. The accounts receivable balance at the beginning of the year was $270,000. The accounts

Accounts receivable written-off as uncollectible during the year amounted to $12,700. The accounts receivable balance at the beginning of the year was $270,000. The accounts receivable balance at the end of the year was $330,000. The allowance for doubtful accounts balance at the beginning of the year was $15,200. The allowance for doubtful accounts balance at the end of the year after the recording of bad debt expense was $14,100. Credit sales during the year totaled $960,000. How much cash was received from collections of accounts receivable?Accounts receivable written-off as uncollectible during the year amounted to $12,700. The accounts receivable balance at the beginning of the year was $270,000. The accounts receivable balance at the end of the year was $330,000. The allowance for doubtful accounts balance at the beginning of the year was $15,200. The allowance for doubtful accounts balance at the end of the year after the recording of bad debt expense was $14,100. Credit sales during the year totaled $960,000.

How much cash was received from collections of accounts receivable?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions