The following account balances come from the records of Ourso Company: Beginning Balance $2,945 Ending Balance $3,665 Accounts receivable Allowance for doubtful accounts 123 171 During the accounting period, Ourso recorded $12,350 of sales revenue on account. The company also wrote off a $183 account receivable. Required a. Determine the amount of cash collected from receivables. b. 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: Beginning Balance $2,945 Ending Balance $3,665 Accounts receivable Allowance for doubtful accounts 123 171 During the accounting period, Ourso recorded $12,350 of sales revenue on account. The company also wrote off a $183 account receivable. Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period. a. Collections of accounts receivable b. Uncollectible accounts expense

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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