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Laurahad net sales (all on account) in 2020 of $840000. At December 31, 2020, before adjusting entries, the balances in selected accounts were: accounts receivable
Laurahad net sales (all on account) in 2020 of $840000. At December 31, 2020, before adjusting entries, the balances in selected accounts were: accounts receivable $1060000debit, and allowance for doubtful accounts $2190debit.Lauraestimates that4% of its accounts receivable will prove to be uncollectible. What is the net amount expected to be collected of the receivables reported on the financial statements at December 31, 2020?
$44590
$1017600
$1019790
$1015410
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