At the beginning of the current period, Fassi Corp. had balances in Accounts Receivable of $400,000 and in Allowance for Doubtful Accounts of $22,000 (credit). During the period, it had net credit sales of $910,000 and collections of $941,000. It wrote off accounts receivable of $24,000. However, a $5,000 account written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $20,000 at the end of the period.
Can your calculate the ending balances in Accounts Receivable and Allowance for Doubtful Accounts
Thanks
2007-08-04
06:41:38
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2 answers
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asked by
daniel l
1