A business has the following balances at the beginning of the year:
Accounts receivable:
Allowance for doubtful accounts:
The following summary transactions occurred during the year.
Sales for the year, on credit:
Cash collected on accounts receivable for the year:
Writeoffs of uncollectable accounts receivable:
Received a cheque from a customer whose account was previously written off:
Overall rate used to estimate the allowance for doubtful accounts at year end:
Using the information above, answer the following questions. Enter the digits only no dollar signs, commas, or decimal points. IMPORTANT enter your answer to the second question the balance in the allowance as a NEGATIVE number, with a minus sign in front of the digits.
What is the balance in the accounts receivable account at year end?
What is the balance in the allowance for doubtful accounts at year end?
What is the balance in the bad debt expense account at year end?
