Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started