Requirements 600 5% \"4 OnJanuary 1, A Pha Services has te tloarg balance* Accou

Question

Requirements 600 5% "4 OnJanuary 1, A Pha Services has te tloarg balance* Accounts Receivable $28,000 (debit) Bad Debts Expense 30 ,000.A hus Services has the and write-offs of $19 Services usos the dowinansactions daring January Credit sales of $110,000, collections of credit sales of 587000, mehiod. At the end of January, the balance of Accounts Recelvable is A. $32.000 OB. S24.023 OC. $51,000 D. $15.027 method is used What is the net . Accounts Recelvable has a balance of $30.coû, and the Allowance for Bad Debts has a credit balance of $3,300. The alowance realizable value of Accounts Receilvable before and ater a $2.,400 account receivabile is written off A. $24.300, $24.300 OB, $24,300, $29,100 c. $26,700 $26,700 OD, $26.700:$24,300 The following information is from the reoords of Pangolin Camera Shop Accounts Receivable, December 31,2017 Allowance for Bad Debts, December 31, 2017 prior to adjustment 6. $20,000 (debit) 800 (debit) 4,000 350 Net credit sales for 2017 Bad debts expense is estimated by the aging-of-accounts-receivables method. Management estimates that $3050 of accounts calulate the amount ofnet accounts receivable alter te stment for bad debts. Accounts winthen ofas uncoletble uring 2017 receivable will be urs $15,800 O B. $16,950 OC. $17,750 D D. $16,150 OA.

Explanation / Answer

Q 4. Answer is $ 32,000

The explanation is as follows:

Opening Accounts receivable                 $ 28,000

Add: Credit sales                                   $ 110,000

Less: Cash received on account             $ 87,000

Less: Bad debts written off                    $ 19,000

Closing balance of Accounts receivable   $ 32,000

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