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The CHS Company has provided the following information: Accounts receivable written-off as uncollectible during the year amounted to $12,600. The accounts receivable balance at the
The CHS Company has provided the following information:
- Accounts receivable written-off as uncollectible during the year amounted to $12,600.
- The accounts receivable balance at the beginning of the year was $260,000.
- The accounts receivable balance at the end of the year was $320,000.
- The allowance for doubtful accounts balance at the beginning of the year was $15,100.
- The allowance for doubtful accounts balance at the end of the year after the recording of bad debt expense was $14,000.
- Credit sales during the year totaled $955,000.
How much cash was received from collections of accounts receivable?
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