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Determine the amount of cash collected during 2014 from sale

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Reference no: EM13995078

Working  Backward:  Allowance  for  Doubtful  Accounts   Olson Corp. reported the following in the Current Assets section of its December 31, 2014, balance sheet:

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During 2014, Olson recorded $80,000 of sales on credit and wrote off $4,000 of uncollectible accounts.

Required

1.        Determine the amount of cash collected during 2014 from sales on credit.

2.        Determine the amount of bad debts expense for 2014.

Reference no: EM13995078

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