FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Inferring Accounts Receivable Amounts
At the end of 2019, Karras Inc. had a debit balance of $141,120 in its accounts receivable. Additionally, Karras had a credit balance in its allowance for doubtful accounts
of $4,350 and $9,420 at the beginning and end of the year, respectively. During the year, Karras made credit sales of $1,530,000, collected receivables in the amount of
$1,445,700, and recorded bad debt expense of $83,750.
Compute the amount of accounts receivable that Karras wrote off during the year and the amount of accounts receivable at the beginning of the year.
Accounts Receiyable written off
Accounts Receivable at 1/1/2019
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Transcribed Image Text:Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of $141,120 in its accounts receivable. Additionally, Karras had a credit balance in its allowance for doubtful accounts of $4,350 and $9,420 at the beginning and end of the year, respectively. During the year, Karras made credit sales of $1,530,000, collected receivables in the amount of $1,445,700, and recorded bad debt expense of $83,750. Compute the amount of accounts receivable that Karras wrote off during the year and the amount of accounts receivable at the beginning of the year. Accounts Receiyable written off Accounts Receivable at 1/1/2019
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