Homework Answers
Answer: $91,250 increase
Calculations:
| Accounts receivable, Beginning | $245,000 |
| Credit sales | $1,100,000 |
| Collections from customers | ($990,000) |
| Written off | ($14,000) |
| Accounts receivable, Ending | $341,000 |
Cash realizable value change during the current year:
| Beginning | Ending | Increase(Decrease) | |
| Accounts receivable | $245,000 | $341,000 | |
| Less: Allowance for doubtful accounts | ($12,250) | ($17,000) | |
| Net realizable value | $232,750 | $324,000 | $91,250 |
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Allowance for doubtful accounts (beginning balance)
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Collections
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Write-offs of accounts receivable
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Collections of accounts previously written off
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period. (Credit account titles are automatically
indented when the amount is entered. Do not indent
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