The December 31, 2018, balance sheet of the Kramer Company had Accounts Receivable of $650,000...
70.2K
Verified Solution
Link Copied!
Question
Accounting
The December 31, 2018, balance sheet of the Kramer Company had Accounts Receivable of $650,000 and a credit balance in Allowance for Doubtful Accounts of $33,000. During 2019, the following transactions occurred: sales on account $1,420,000; collections from customers, $1,250,000; accounts written off, $35,000; previously written off accounts of $5,000 were reinstated and the cash was collected.
Determine the December 31, 2019 ending balance for Accounts Receivable.!!!
$785,000
$1,290,000
$2,075,000
$820,000
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: Zin AI - Your personal assistant for all your inquiries!
