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At the beginning of 203,P2m Tax Prep Company reported Accounts Receivable $12000 and Allowance for Uncollectible Accounts $1000 (debit). During 203, before recording the year-end
At the beginning of 203,P2m Tax Prep Company reported Accounts Receivable $12000 and Allowance for Uncollectible Accounts $1000 (debit). During 203, before recording the year-end adjusting entries, the Company recorded credit service revenue $31000 and wrote off accounts receivable $450. The following balance was reported on December 31,203, before any adjustment: Accounts Receivable =$23000. The Company estimates uncollectible accounts based on an aging of accounts receivable as shown below. Required: Please choose the best answer to the following questions based on the above information. On December 31,203, what is the amount of accounts receivable that the Company expects to collect from customers? $19100 $23000 $21550 $11000 What is the amount of bad debt expense that the Company recorded in its December 31,203, adjustment to the allowance account? $2900 $3900 $5350 $3450 How much cash did the Company collect on Accounts Receivable in 203 ? $20000 $31000 $30550 $19550
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