Question
Thomas conducts all sales on account. They began the year with A/R of $100,000 and a credit balance in ADA of $9,000. They collected on
Thomas conducts all sales on account. They began the year with A/R of $100,000 and a credit balance in ADA of $9,000. They collected on $155,000 of A/R and wrote off another $6,000. Bad debt expense was $2,000. They estimate that 5% of receivables will be uncollectible. What is ending A/R?
A. None of these.
B. $500,000.
C. $200,000.
D. $100,000.
E. $300,000
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Fundamentals Of Corporate Finance
Authors: Stephen A Ross, Randolph W Westerfield
5th Edition
9780072313000
