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Apple has an AR balance at the beginning of the year of $115 with an Allowance...

Apple has an AR balance at the beginning of the year of $115 with an Allowance for Bad Debts of $6. During the year, it makes $530 of sales on account and collects $520 from its customers related to AR. In addition, one account of $8 known to be uncollectible is written-off. At the end of the year management estimates that the reserve for uncollectible accounts should be $9. Assuming these were the only transactions for the year complete the table below:

Balance

AR:

Bad Debt Expense:

Net Income:

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Answer #1

A Calculation of Balance of Accounts Receivable: Beginning Balance Sales on Account During the Year Less: Collections Less: W

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