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What amount should indigo report for accounts receivable

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Reference no: EM132836919

Problem 1: The following information relates to INDIGO Company's accounts receivable for 2020: Accounts receivable, Jan.1 -?975,000; Credit sales ?4,050,000; Sales returns -?112,500; Accounts written off during the year -?60,000; Collections from customers -?3,225,000; Estimated future sales returns -?75,000; Estimated Uncollectible accounts -?165,000. What amount should INDIGO report for accounts receivable, before allowances for sales returns and uncollectible accounts, at December 31, 2020?

a. ? 1,387,500
b. ? 1,687,500
c. ? 1,800,000
d. ? 1,627,500

Reference no: EM132836919

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