Problem 4-10 (AICPA Adapted) Rapture Company had the following information for the current year relating to accounts receivable: Accounts receivable, January 1 Credit sales Collections from customers, excluding recovery Accounts written off Collection of accounts written off in prior year, customer credit was not reestablished Estimated uncollectible receivables per aging at December 31 1,300,000 5,400,000 4,750,000 125,000 25,000 165,000 What is the balance of accounts receivable, before allowance for doubtful accounts, on December 31? a. 1,825,000 b. 1,850,000 E: 1,950,000 d. 1,990,000

Problem 4-10 (AICPA Adapted) Rapture Company had the following information for the current year relating to accounts receivable: Accounts receivable, January 1 Credit sales Collections from customers, excluding recovery Accounts written off Collection of accounts written off in prior year, customer credit was not reestablished Estimated uncollectible receivables per aging at December 31 1,300,000 5,400,000 4,750,000 125,000 25,000 165,000 What is the balance of accounts receivable, before allowance for doubtful accounts, on December 31? a. 1,825,000 b. 1,850,000 E: 1,950,000 d. 1,990,000

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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