Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the balance sheet at the end of its first year of operations, Dinty Incorporated reported an allowance for uncollectible accounts of $82,900. During the

In the balance sheet at the end of its first year of operations, Dinty Incorporated reported an allowance for uncollectible accounts of $82,900. During the year, Dinty wrote off $31,200 of accounts receivable it had attempted to collect and failed. Credit sales for the year were $2,250,000, and cash collections from credit customers totaled $1,830,000.

What accounts receivable balance would Dinty report in its first year-end balance sheet?

$368,300

None of these answer choices are correct.

$337,100

$388,800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Auditing Fundamentals In A South African Context

Authors: Gerrit Penning, Rika Butler, Pieter Von Wielligh, Frans Prinsloo

2nd Edition

0190749040, 978-0190749040

More Books

Students also viewed these Accounting questions