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

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Accounting

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CoursHeroTranscribedText: A business has the following balances at the beginning of the year: Accounts receivable: 265000 Allowance for doubtful accounts: -39750 The following summary transactions occurred during the year. Sales for the year, 100% on credit: 510000 Cash collected on accounts receivable for the year: 503750 Write-offs of uncollectable accounts receivable: 31800 Received a cheque from a customer whose account was previously written off: 3180 Overall rate used to estimate the allowance for doubtful accounts at year end: 10% 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? #7271250," x (239450) What is the balance in the allowance for doubtful accounts at year end? __ -6095 __ x (-23945) What is the balance in the bad debt expense account at year end? __ 31800___ x (12815)

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