Rapture Company had the following information for the current year relating to accounts receivable: Accounts receivable, January 1 1,300,000 Credit sales 5,400,000 Collections from customers, excluding recovery 4,750,000 125,000 Accounts written off Collections of accounts written off in prior year, Customer credit was not reestablished 25,000 Estimated collectible receivables per aging At December 31 165,000 What is the balance of accounts receivable before allowance for doubtful accounts on December 31?

Rapture Company had the following information for the current year relating to accounts receivable: Accounts receivable, January 1 1,300,000 Credit sales 5,400,000 Collections from customers, excluding recovery 4,750,000 125,000 Accounts written off Collections of accounts written off in prior year, Customer credit was not reestablished 25,000 Estimated collectible receivables per aging At December 31 165,000 What is the balance of accounts receivable before allowance for doubtful accounts on December 31?

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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