Question
The data below are for Music Corporation for 2017: Accounts receivableJanuary 1, 2017 $236,000 Credit sales during 2017 820,000 Collections from credit customers during 2017
The data below are for Music Corporation for 2017:
| Accounts receivableJanuary 1, 2017 | $236,000 |
| Credit sales during 2017 | 820,000 |
| Collections from credit customers during 2017 | 590,000 |
| Customer accounts written off as uncollectible during 2017 | 8,000 |
| Allowance for doubtful accountsJanuary 1, 2017 | 8,700 |
| Estimated uncollectible accounts based on an aging analysis | 9,600 |
Refer to the data for Music Corporation. What is the balance of Accounts Receivable at December 31, 2017?
a.$466,000
b.$458,000
c.$336,000
d.$448,400
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Financial Accounting
Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin
7th Canadian Edition
0135433061, 9780135433065
