The Fisher Merchandising Company’s December 31 balance sheet contained the follo
ID: 2426406 • Letter: T
Question
The Fisher Merchandising Company’s December 31 balance sheet contained the following information. If the Fisher Merchandising Company were to predict the dollar amount of cash it would receive from collecting its December 31 customers, what is the total dollar amount of cash the company would predict it would receive?
Assets
Current Assets
Cash
$13,000
Accounts Receivable
$35,700
Allowance for Uncollectible Accounts
$2,000
$33,700
Merchandise Inventory
$59,000
Supplies
$1,450
Prepaid Insurance
$2,950
$2,000
$33,700
$0
$13,000
$35,700
Assets
Current Assets
Cash
$13,000
Accounts Receivable
$35,700
Allowance for Uncollectible Accounts
$2,000
$33,700
Merchandise Inventory
$59,000
Supplies
$1,450
Prepaid Insurance
$2,950
Explanation / Answer
it would predict to receive $33,700 as $2000 is accounted as doubtful based on historic rate
option b
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