What is the balance in the accounts receivable account

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Question - A business has the following balances at the beginning of the year: Accounts receivable: 175000 Allowance for doubtful accounts: -26250

The following summary transactions occurred during the year. Sales for the year, 100% on credit: 330000 Cash collected on accounts receivable for the year: 328200 Write-offs of uncollectable accounts receivable: 21000

Received a cheque from a customer whose account was previously written off: 2100

The overall rate used to estimate the allowance for doubtful accounts at year end: 10%

Using the information above, answer the following questions - What is the balance in the accounts receivable account at year end? What is the balance in the allowance for doubtful accounts at year end? What is the balance in the bad debt expense account at year end?

Reference no: EM133152499

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