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Question 10 3 pts What is the dollar amount for the Allowance for Doubtful Accounts in the unadjusted trial balance as at 30 June 2020?
Question 10 3 pts What is the dollar amount for the Allowance for Doubtful Accounts in the unadjusted trial balance as at 30 June 2020? Question 10: Accounts Receivable Ignore GST. As at 1 July 2019, the beginning of its financial year, Ma Ltd reported the following information on its balance sheet: Accounts receivable $1,020,000 Less: Allowance for doubtful accounts 60,000 All sales are on credit. During the financial year ending 30 June 2020, the business had the following information related to receivables: 1. Sales Revenue (GL balance as at 30 June 2020) $2,670,000 2. Sales Discounts (GL balance as at 30 June 2020) 10,000 3. Sales Returns and Allowances (GL balance as at 30 June 2020) 30,000 4. Collections of accounts receivable (DR Cash) 2,300,000 5. Write-offs of accounts receivable 65,000 6. Recovery of previous write-offs (DR Cash) 20,000
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