a).The amount given for beginning balance is $4,000. $32,000 was added and $300 subtracted. That leaves a balance of $35,700. So, in order for there to be an ending balance of $4,500, $31,200 must have been collected ($35,700 - $4,500)
Collections of accounts receivable is $31,200
b). The beginning balance was $550. $300 was subtracted from that to leave a balance of $250. If the ending balance is $600, $350 must have been recognized as bad debt expense. ($600 - $250)
The amount of uncollectible accounts expense is $350
Feb 20th, 2015
Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.