Question
Could you show me step by step how to solve the following? Echo Company started the year with a $4,600 balance in accounts receivable and
Could you show me step by step how to solve the following?
Echo Company started the year with a $4,600 balance in accounts receivable and a $150 balance in the allowance for doubtful accounts. The company had credit sales of $12,000, collections on accounts receivable of $13,000, and wrote off uncollectible accounts of $200 during the year. The company believes that 2 percent of its credit sales will be uncollectible.
a) The balance in the accounts receivable account at the end of the year would be?
b) The amount of uncollectible accounts expense appearing on the year's income statement would be?
c) the net realizable value of receivables at the end of the year would be?
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