Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following information relates to graham housin

The following information relates to Graham Housing Inc.'s accounts receivable for 2018: Accounts receivable, 1/1/18...

50.1K

Verified Solution

Question

Accounting

The following information relates to Graham Housing Inc.'s accounts receivable for 2018:

Accounts receivable, 1/1/18 $750,000

Sales for 2018 $2,700,000

Sales returns for 2018 $75,000

Accounts written off during 2018 $40,000

Collections from customers during 2018 $2,150,000

Estimated future sales returns at 12/31/18 $50,000

Estimated uncollectible accounts at 12/31/18 $110,000

What amount should Graham Housing report for accounts receivable, before allowance for sales returns and uncollectible accounts, at December 31, 2018?

A. $1,200,000.

B. $1,125,000.

C. $1,085,000.

D. $1,185,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

diagram how the respiratory system and the renal system compensate in the body to maintain blood...

Medical Sciences
Q

Consider how the intensity of light changes as it passes between two Polaroid disks at different...

Physics
Q

If R red eyed and r white eyed what would be the result of a...

Biology
Q

A nucleus mx emits two alpha particle and two beta particles The resulting nucleus is...

Physics
Q

After studying all night for a final exam a bleary eyed student randomly grabs 2...

Statistics
Q

Part 4 of 5 Similarly Part 5 of 5 1000 81 Since Irl We can...

Calculus
Q

Arrange the following financial information into the following: Comparative Balance Sheet for 2010 vs. 2011...

Accounting
Q

2020 2021 Assets, January 1 $6,200 $5,040 Liabilities, January 1 2,520 ? Stockholders' Equity, Jan....

Accounting
Q

#1-11 Using the financial data below, answer the...

Accounting
Q

Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. ...

Accounting
Q

At 31 December 208, Northern Resources Ltd. reports the following on its statement of financial...

Accounting
Q

Glasgow Enterprises started the period with 170 units in beginning inventory that cost $7.00 each....

Accounting