Question
The following asset balances were as follows: Cash, $6,550; Accounts Receivable, $21,700; and Allowance for Doubtful Accounts, $5,650. The next day, you record the collection
The following asset balances were as follows: Cash, $6,550; Accounts Receivable, $21,700; and Allowance for Doubtful Accounts, $5,650. The next day, you record the collection of a customer account for $2,210 that had been written off six months earlier. Record the balances of each of these accounts after the customer collection.
Select one:
a.
Cash, $6,590; Accounts Receivable, $21,700; Allowance for Doubtful Accounts; $7,860
b.
Cash, $6,590; Accounts Receivable, $23,910; Allowance for Doubtful Accounts; $5,650
c.
Cash, $6,590; Accounts Receivable, $23,910; Allowance for Doubtful Accounts; $5,650
d.
Cash, $8,760; Accounts Receivable, $23,910; Allowance for Doubtful Accounts; $5,650
e.
Cash, $8,760; Accounts Receivable, $21,700; Allowance for Doubtful Accounts; $7,860
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