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On January 1, 2020, O'Brien Media had an Accounts Receivable balance of $1,100,000 and an Allowance for Doubtful Accounts balance of $62,000. During 2020, O'Brien
On January 1, 2020, O'Brien Media had an Accounts Receivable balance of $1,100,000 and an Allowance for Doubtful Accounts balance of $62,000. During 2020, O'Brien had credit sales of $5,800,000 and cash collections of $5,500,000. Also, during 2020, O'Brien wrote-off uncollectible accounts receivable totaling $32,000. O'Brien estimates that 1% of credit sales will be uncollectible. What is O'Brien's 12/31/20 ending balance in Accounts Receivable? O A. $1,368,000 B. $1,068,000 O C. $1,400,000 O D. $768,000
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