Homework Answers
Answer:
| Accounts receivable, Ending | 432,200 |
| Allowance for doubtful accounts, Ending [432,200 x 4%] | -17,288 |
| Net realizable value | 414,912 |
Calculations:
| Accounts receivable | |||
| Beginning balance | 164,000 | Collections | 1,720,000 |
| Sales | 2,000,000 | Accounts written off | 11,800 |
| Re-instate previously written off | 1,100 | Collections of accounts previously written off | 1,100 |
| Ending balance (Balance figure) | 432,200 | ||
| Total | 2,165,100 | Total | 2,165,100 |
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