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The following pertains to T Rump Corporation: A. Allowance for doubtful accounts at January 1, 2018 was $12,000 CR. B. Accounts receivable written off during
The following pertains to T Rump Corporation: A. Allowance for doubtful accounts at January 1, 2018 was $12,000 CR. B. Accounts receivable written off during the year totaled $17,000. C. 90% of 2018 sales are on credit. Total sales for the year were $1,150,000. D. The amount of cash collected from Accounts Receivable was $990,000. The credit terms are 1/15,N/30 and all customers pay within the discount period (what was the reduction to Accounts Receivable when this cash was collected
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