Question

Use the following information to calculate accounts receivableon July 31, 2018 and the amount of accounts receivable written offin 2018. Assume that all sales are on credit:

            July31

 

 

 

 

 

 

2018

 

 

2017

 

  Accountsreceivable

$

?

 

$

77,700

  Allowance foruncollectible accounts

 

(5,200)

 

 

(4,900)

  Revenue recognizedduring 2018

 

351,900

 

 

 

  Collections ofaccounts receivable during 2018

 

394,000

 

 

 

  Bad debt expensefor 2018

 

5,400

 

 

 

  Amount of accountsreceivable written off during 2018

 

?

 

 

 

Calculate Accounts Receivable on July 31,2018 and Receivablewritten off during 2018.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *