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The following information relates to Jhon Co.’s accounts receivable for 2020: Accounts receivable, 1/1/20 650,000 Credit sales for 2020 2,700,000 Sales returns for 2020 75,000 Accounts written off during 2020 40,000 Collections from customers during 2020 2,150,000 Estimated future sales returns at 12/31/20 50,000 Estimated uncollectible accounts at 12/31/20 110,000 What amount should Jay report for accounts receivable, before allowances for sales returns and uncollectible accounts, at December 31, 2020? __________

The following information relates to Jhon Co.’s accounts receivable for 2020: Accounts receivable, 1/1/20 650,000 Credit sales for 2020 2,700,000 Sales returns for 2020 75,000 Accounts written off during 2020 40,000 Collections from customers during 2020 2,150,000 Estimated future sales returns at 12/31/20 50,000 Estimated uncollectible accounts at 12/31/20 110,000 What amount should Jay report for accounts receivable, before allowances for sales returns and uncollectible accounts, at December 31, 2020? __________

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 information relates to Jhon Co.’s accounts receivable for 2020:
Accounts receivable, 1/1/20 650,000
Credit sales for 2020 2,700,000
Sales returns for 2020 75,000
Accounts written off during 2020 40,000
Collections from customers during 2020 2,150,000
Estimated future sales returns at 12/31/20 50,000
Estimated uncollectible accounts at 12/31/20 110,000


What amount should Jay report for accounts receivable, before allowances for sales returns and uncollectible accounts, at December 31, 2020? __________

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