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Avett Furniture Store has credit sales of $400,000 in 2021 and a debit...

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Accounting

Avett Furniture Store has credit sales of $400,000 in 2021 and a debit balance of $600 in the Allowance for Doubtful Accounts at year end. As of December 31,2021,$130,000 of accounts receivable remain uncollected. The credit manager prepared an aging schedule of accounts rectivable and estimates that $7,000 will prove to be uncollectible.
On March 4,2022, the credit manager authorizes a write-off of the $1,200 balance owed by B. Fernitti.
Part 1
Part 2
Show the balance sheet presentation of accounts receivable on December 31,2021.
Avett Furniture Store
Balance Sheet
image

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