Solution-What is the net amount of accounts receivable at

What is the net amount of accounts receivable at end

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Reference no: EM132492329

The statement of financial position of Stancia SA at December 31, 2018, includes the following (in thousands).

Accounts receivable $218,100

Less: Allowance for doubtful accounts 17,300

$200,800

Transactions in 2019 include the following.

1. Accounts receivable of $138,000 were collected including accounts of $60,000 on which 2% sales discounts were allowed.

2. $5,300 was received in payment of an account which was written off the books as worthless in 2019.

3. Customer accounts of R$17,500 were written off during the year.

4. At year-end, Allowance for Doubtful Accounts was estimated to need a balance of $20,000. This estimate is based on an analysis of aged accounts receivable.

Instructions

Question a. Finish all journal entries necessary to reflect the transactions above.

Question b. What is the net amount of accounts receivable at end of 2019?

Reference no: EM132492329

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What is the net amount of accounts receivable at end

Reference no: EM132492329

Reference no: EM132492329

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