The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful accounts Beginning Balance $2,570 128 Ending Balance $ 3,414 187 During the accounting period, Ourso recorded $12,450 of sales revenue on account. The company also wrote off a $192 account receivable. Required: 1. Determine the amount of cash collected from receivables. 2. Determine the amount of uncollectible accounts expense recognized during the period. a. Collections of accounts receivable b. Uncollectible accounts expense
The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful accounts Beginning Balance $2,570 128 Ending Balance $ 3,414 187 During the accounting period, Ourso recorded $12,450 of sales revenue on account. The company also wrote off a $192 account receivable. Required: 1. Determine the amount of cash collected from receivables. 2. Determine the amount of uncollectible accounts expense recognized during the period. a. Collections of accounts receivable b. Uncollectible accounts expense
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 1CE
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![The following account balances come from the records of Ourso Company:
Beginning
Balance
Ending
Balance
Accounts receivable
Allowance for doubtful accounts
$ 2,570
128
$ 3,414
187
During the accounting period, Ourso recorded $12,450 of sales revenue on account. The company also wrote off a $192 account
receivable.
Required:
1. Determine the amount of cash collected from receivables.
2. Determine the amount of uncollectible accounts expense recognized during the period.
a. Collections of accounts receivable
b. Uncollectible accounts expense](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4555c298-78fa-429c-80d5-7cb7f24ee7f2%2F1f3d0d82-0c94-4841-841a-c27b6d6eb0f0%2Fbzfc3cr_processed.png&w=3840&q=75)
Transcribed Image Text:The following account balances come from the records of Ourso Company:
Beginning
Balance
Ending
Balance
Accounts receivable
Allowance for doubtful accounts
$ 2,570
128
$ 3,414
187
During the accounting period, Ourso recorded $12,450 of sales revenue on account. The company also wrote off a $192 account
receivable.
Required:
1. Determine the amount of cash collected from receivables.
2. Determine the amount of uncollectible accounts expense recognized during the period.
a. Collections of accounts receivable
b. Uncollectible accounts expense
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