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  • Homework On Receivables Answer

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    John Cedfrey Narne
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    This document discusses accounts receivable and bad debt expense. It shows that accounts receivable on December 31 was $1,800,000, bad debt expense was $160,000, and $80,000 of accounts receivable was written off, resulting in gross accounts receivable of $1,560,000. It also mentions an allowance for doubtful accounts and an allowance for sales discounts but does not provide enough information to answer a question about them.

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    Homework on Receivables Answer

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    This document discusses accounts receivable and bad debt expense. It shows that accounts receivable on December 31 was $1,800,000, bad debt expense was $160,000, and $80,000 of accounts receivable was written off, resulting in gross accounts receivable of $1,560,000. It also mentions an allowance for doubtful accounts and an allowance for sales discounts but does not provide enough information to answer a question about them.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    13 views1 page

    Homework On Receivables Answer

    Uploaded by

    John Cedfrey Narne
    This document discusses accounts receivable and bad debt expense. It shows that accounts receivable on December 31 was $1,800,000, bad debt expense was $160,000, and $80,000 of accounts receivable was written off, resulting in gross accounts receivable of $1,560,000. It also mentions an allowance for doubtful accounts and an allowance for sales discounts but does not provide enough information to answer a question about them.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Homework on Receivables Answer

    Problem 1

    Accounts Receivable, Dec. 31 1,800,000


    Bad debts Expense 160,000
    Written off accounts receivable 80,000 (240,000)
    Gross Accounts Receivable P 1,560,000

    Problem 2 (Unanswerable)

    1) Allowance for Doubtful Accounts


    Sales Discount 1,200
    Alowance for Sales Discount 1,200

    Problem 3

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