The following information relates to Halloran Co.'s accounts receivable for 2018: Accounts receivable balance, 1/1/2018 $...

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The following information relates to Halloran Co.'s accounts receivable for 2018: Accounts receivable balance, 1/1/2018 $...

The following information relates to Halloran Co.'s accounts receivable for 2018:


Accounts receivable balance, 1/1/2018	$	843,000
Credit sales for 2018		3,320,000
Accounts receivable written off during 2018		59,000
Collections from customers during 2018		3,100,000
Allowance for uncollectible accounts balance, 12/31/2018		205,000

What amount should Halloran report for accounts receivable, before allowances, at December 31, 2018?

Multiple Choice

$1,004,000.
$1,063,000.
$799,000.
None of these answer choices are correct.

business accounting

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Answer 1

Answer #1

Accounts receivable balance, 1/1/2018	843000
Add: Credit sales for 2018	3320000
Less: Accounts receivable written off during 2018	-59000
Less: Collections from customers during 2018	-3100000
Accounts receivable, December 31, 2018	1004000

Option A $1,004,000 is correct

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Answer 2

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