Homework Answers
Answers
- Question #1
|
Accounts receivables (Gross) |
|
|
Beginning 2022 |
$1,620,000 |
|
Sale on account |
$4,860,000 |
|
Collection |
($2,550,000) |
|
Written off |
($63,000) |
|
Recoveries |
|
|
Ending balance |
$3,867,000 Answer |
Gross account receivable at the end of year = $ 3867000
- Question #2
Bad Debt Expense = 5% of sales
= 5% of $ 4760000
= $ 238,000 Answer
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