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The following account balances come from the records of Ourso Company: Beginning Balance $2,800 Accounts receivable Ending Balance Allowance for doubtful accounts $3, 600 280 350 During the accounting perlod, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account recelvable. RequIred a. Determine the amount of cash collected from recelvables. b. Determine the amount of uncollectible accounts expense recognized during the perlod. a. Collections of accounts receivable b. Uncollectible accounts expense

The following account balances come from the records of Ourso Company: Beginning Balance $2,800 Accounts receivable Ending Balance Allowance for doubtful accounts $3, 600 280 350 During the accounting perlod, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account recelvable. RequIred a. Determine the amount of cash collected from recelvables. b. Determine the amount of uncollectible accounts expense recognized during the perlod. a. Collections of accounts receivable b. Uncollectible accounts expense

FINANCIAL ACCOUNTING
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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The following account balances come from the records of Ourso Company: Beginning Balance $2,800 Accounts receivable Ending Balance Allowance for doubtful accounts $3,600 280 350 During the accounting perlod, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account recelvable. Requlred a. Determine the amount of cash collected from recelvables. b. Determine the amount of uncollectible accounts expense recognized during the perlod. a. Collections of accounts receivable Uncollectible accounts expense
Transcribed Image Text:The following account balances come from the records of Ourso Company: Beginning Balance $2,800 Accounts receivable Ending Balance Allowance for doubtful accounts $3,600 280 350 During the accounting perlod, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account recelvable. Requlred a. Determine the amount of cash collected from recelvables. b. Determine the amount of uncollectible accounts expense recognized during the perlod. a. Collections of accounts receivable Uncollectible accounts expense
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