Question

Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts The following account balances come from the records of Ourso Company: Accounts Receivable Allowance for Doubtful Accounts Beginning Balance $2,800 280 Ending Balance $3,600 350 During the accounting period, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account receivable. Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period.

Answer 1

Answer:Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts The following account balances come from the records of Ourso Company: Accounts Receivable Allowance for Doubtful Accounts Beginning Balance $2,800 280 Ending Balance $3,600 350 During the accounting period, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account receivable. Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period.

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