Question 8 At January 1, 2025, XYZ Company had an allowance for doubtful accounts with a $39,300 credit balance. XYZ Company reported the following information for 2025: 4 Sales revenue Cash collections from customers Write-offs of uncollectible accounts Recoveries of previously written-off accounts Bad debt expense In order to estimate the bad debt expense, XYZ Company prepared the following aging schedule at December 31, 2025: $392,800 $307,500 ? $ 14,600 $ 31,090 Accounts Receivable % Uncollectible 3% 7% 11% 24% 46% not past due 1-30 days past due 31-60 days past due 61-90 days past due over 90 days past due total accounts receivable $181,000 $ 36,000 $ 42,000 $ 21,000 $ 13,000 $293,000 Calculate XYZ Company's accounts receivable balance at January 1, 2025.

Question 8 At January 1, 2025, XYZ Company had an allowance for doubtful accounts with a $39,300 credit balance. XYZ Company reported the following information for 2025: 4 Sales revenue Cash collections from customers Write-offs of uncollectible accounts Recoveries of previously written-off accounts Bad debt expense In order to estimate the bad debt expense, XYZ Company prepared the following aging schedule at December 31, 2025: $392,800 $307,500 ? $ 14,600 $ 31,090 Accounts Receivable % Uncollectible 3% 7% 11% 24% 46% not past due 1-30 days past due 31-60 days past due 61-90 days past due over 90 days past due total accounts receivable $181,000 $ 36,000 $ 42,000 $ 21,000 $ 13,000 $293,000 Calculate XYZ Company's accounts receivable balance at January 1, 2025.

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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