Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts
The following account balances come from the records of Teton Company.
| Beginning Balance | Ending Balance |
Accounts Receivable | $3,000 | $3,500 |
Allowance for Doubtful Accounts | 120 | 200 |
During the accounting period, Teton recorded $12,000 of service revenue on account. The company also wrote off a $150 account receivable.
Required
a.Determine the amount of cash collected from receivables.
b.Determine the amount of uncollectible accounts expense recognized during the period.
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