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Question 1(6 points) A business has the following balances at the beginning of the...

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Accounting

Question 1(6 points)
A business has the following balances at the beginning of the year:
Accounts receivable: 200000
Allowance for doubtful accounts: -30000
The following summary transactions occurred during the year.
Sales for the year, 100% on credit: 380000
Cash collected on accounts receivable for the year: 377000
Write-offs of uncollectable accounts receivable: 24000
Received a cheque from a customer whose account was previously written off: 2400
Overall rate used to estimate the allowance for doubtful accounts at year end: 16%
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?
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