Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Olive corporation had a credit balance in the allowance for doubtful accounts of $62,000 at 1/1/19. During 2019, is $21,400 of accounts and collected $7,800

Olive corporation had a credit balance in the allowance for doubtful accounts of $62,000 at 1/1/19. During 2019, is $21,400 of accounts and collected $7,800 on accounts previously written off. The amount of bad debt expense recognized in 2019 is $11,000. If valdes estimates at the year-end that %6 of accounts receivable will prove to be uncollectible, what is the accounts receivable balance at 12/31/2019?

$ 183,333

$ 990,000

$ 1,443,333

$ 1,520,000

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

Step: 3

blur-text-image

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

Operational Auditing An Introduction With Suggested Answers To Discussion Questions

Authors: Darwin J. Casler

1st Edition

0894130978, 978-0894130977

More Books

Students also viewed these Accounting questions