On January 1, Five Star Services has the following balances: Accounts Receivable $24,000 (debit) Bad Debts Expense $0 Five Star Services has the following transactions during January: Credit sales of $100,000, collections of credit sales of $85,000, and write - offs of $17,000. Five Star Services uses the direct write - off method. At the end of January, the balance of Accounts Receivable is OA. $14,450 XB. $39,000 OC. $20,000 D. $22,000

On January 1, Five Star Services has the following balances: Accounts Receivable $24,000 (debit) Bad Debts Expense $0 Five Star Services has the following transactions during January: Credit sales of $100,000, collections of credit sales of $85,000, and write - offs of $17,000. Five Star Services uses the direct write - off method. At the end of January, the balance of Accounts Receivable is OA. $14,450 XB. $39,000 OC. $20,000 D. $22,000

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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