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  3. a business has the following balances at the begin

A business has the following balances at the beginning of the year: Accounts receivable: 167500...

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Accounting

A business has the following balances at the beginning of the year: Accounts receivable: 167500 and allowance for doubtful accounts: -25125. The following summary transactions occurred during the year: Sales for the year, 100% on credit: 315000; Cash collected on accounts receivable for the year: 313600; Write-offs of uncollectable accounts receivable: 20100; Received a cheque from a customer whose account was previously written off: 2010; Overall rate used to estimate the allowance for doubtful accounts at year end: 12%. Using this information, answer the following questions.

1) What is the balance in the accounts receivable account at year end? Answer 1 Question 1 (2) What is the balance in the allowance for doubtful accounts at year end? Answer 2 Question 1 (3) What is the balance in the bad debt expense account at year end?

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