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Adjusting Cash Flows for Changes in Accounts Receivable Marshall Inc. had beginning balances (January 1) of $220,000 and $5,500 for accounts receivable and the allowance for doubtful accounts, respectively. During the year, the company had the following transactions. Note: Indicate a subtraction in the Operating activities section with a negative sign in the Amount column. Sales Write-off of accounts $990,000 1,100 Cash collections on account receivable 935,000 Bad debt expense recorded 3,080 a. Determine the ending balance (December 31) in accounts receivable and the allowance for doubtful accounts. Accounts receivable, ending balance Allowance for doubtful accounts, ending balance s 0 x b. Determine the adjustment to net income in the operating activities section in the statement of cash flows assuming the indirect method is used. Item Increase in accounts receivable, net Amount in the Operating Activities Section 0x = ✔

Adjusting Cash Flows for Changes in Accounts Receivable Marshall Inc. had beginning balances (January 1) of $220,000 and $5,500 for accounts receivable and the allowance for doubtful accounts, respectively. During the year, the company had the following transactions. Note: Indicate a subtraction in the Operating activities section with a negative sign in the Amount column. Sales Write-off of accounts $990,000 1,100 Cash collections on account receivable 935,000 Bad debt expense recorded 3,080 a. Determine the ending balance (December 31) in accounts receivable and the allowance for doubtful accounts. Accounts receivable, ending balance Allowance for doubtful accounts, ending balance s 0 x b. Determine the adjustment to net income in the operating activities section in the statement of cash flows assuming the indirect method is used. Item Increase in accounts receivable, net Amount in the Operating Activities Section 0x = ✔

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Adjusting Cash Flows for Changes in Accounts Receivable Marshall Inc. had beginning balances (January 1) of $220,000 and $5,500 for accounts receivable and the allowance for doubtful accounts, respectively. During the year, the company had the following transactions. Note: Indicate a subtraction in the Operating activities section with a negative sign in the Amount column. Sales Write-off of accounts $990,000 1,100 Cash collections on account receivable 935,000 Bad debt expense recorded 3,080 a. Determine the ending balance (December 31) in accounts receivable and the allowance for doubtful accounts. Accounts receivable, ending balance Allowance for doubtful accounts, ending balance s 0 x b. Determine the adjustment to net income in the operating activities section in the statement of cash flows assuming the indirect method is used. Item Increase in accounts receivable, net Amount in the Operating Activities Section 0x ✔
Transcribed Image Text:Adjusting Cash Flows for Changes in Accounts Receivable Marshall Inc. had beginning balances (January 1) of $220,000 and $5,500 for accounts receivable and the allowance for doubtful accounts, respectively. During the year, the company had the following transactions. Note: Indicate a subtraction in the Operating activities section with a negative sign in the Amount column. Sales Write-off of accounts $990,000 1,100 Cash collections on account receivable 935,000 Bad debt expense recorded 3,080 a. Determine the ending balance (December 31) in accounts receivable and the allowance for doubtful accounts. Accounts receivable, ending balance Allowance for doubtful accounts, ending balance s 0 x b. Determine the adjustment to net income in the operating activities section in the statement of cash flows assuming the indirect method is used. Item Increase in accounts receivable, net Amount in the Operating Activities Section 0x ✔
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