If provided with the below information: What is the total gross accounts receiva

Question

If provided with the below information: What is the total gross accounts receivables amount for year ending 2016? Is it 1,400,000 plus the 1,950,000 in credit sales or is it just 1,400,000 alone? Remember the Allowance amount only affects net accounts receivables; which is gross accounts receivables minus allowance.

Problem Set A Copeland Company had the following account balances at December 31, 2016, before recording bad debt expense for the year: Unadjusted Trial Balance Accounts receivable $1,400,000 Allowance for uncollectible accounts (credit balance) 22,000 Credit sales for 2016 1,950,000 Ending 12/31/2015 Balance in Accounts receivable on 1/1/2016 $1,200,000 Balance in Allowance for uncollectible accounts (credit balance) on 1/1/2016             24,000

Explanation / Answer

The Gross accounts receivable will be 1,400,000. Credit sales information seems to have been given in a different context

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.