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Calculate the ending balance of accounts receivable

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Question - At the beginning of 2019, Statewide Delivery, Inc. has the following account balances:

Accounts Receivable $43,000 (debit balance)

Allowance for Bad Debts $7,000 (credit balance)

Bad Debts Expense $0

During the year, credit sales amounted to $820,000. Cash collected on credit sales amounted to $750,000, and $17,000 has been written off. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 2.5%. Calculate the ending balance of Accounts Receivable?

A. $96,000

B. $43,000

C. $40,325

D. $17,000

Reference no: EM132601412

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