Solution-What balance in the accounts receivable account at

What balance in the accounts receivable account at year end

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Reference no: EM132698917

A business has the following balances at the beginning of the year:

Accounts receivable: 272500

Allowance for doubtful accounts: -40875

The following summary transactions occurred during the year.

Sales for the year, 100% on credit: 525000

Cash collected on accounts receivable for the year: 518375

Write-offs of uncollectable accounts receivable: 32700

Received a cheque from a customer whose account was previously written off: 3270

Overall rate used to estimate the allowance for doubtful accounts at year end: 16%

Using the information above, answer the following questions. Enter the digits only - no dollar signs, commas, or decimal points.

Question 1: What is the balance in the accounts receivable account at year end?

Question 2: What is the balance in the allowance for doubtful accounts at year end?

Question 3: What is the balance in the bad debt expense account at year end?

Reference no: EM132698917

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What balance in the accounts receivable account at year end

Reference no: EM132698917

Reference no: EM132698917

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