- On July 31 Bristlecone Pine Art Ltd Had A 54 500 Balance In Accounts Receivable And A 3 100 Credit Balance In Allowa 1 (87.64 KiB) Viewed 36 times
On July 31, Bristlecone Pine Art Ltd. had a $54,500 balance in Accounts Receivable and a $3,100 credit balance in Allowa
-
answerhappygod
- Site Admin
- Posts: 899604
- Joined: Mon Aug 02, 2021 8:13 am
On July 31, Bristlecone Pine Art Ltd. had a $54,500 balance in Accounts Receivable and a $3,100 credit balance in Allowa
On July 31, Bristlecone Pine Art Ltd. had a $54,500 balance in Accounts Receivable and a $3,100 credit balance in Allowance for Uncollectible Accounts. During August, Bristlecone Pine Art Ltd. made credit sales of $42,000. August cash collections on account were $17,800; write-offs of uncollectible receivables totalled $1,200; and an account of $400 was recovered. After careful assessment of the updated accounts receivables, Bristlecone Pine Art Ltd. estimates that $3,800 won't be collected. Blank #1: What is the updated Accounts Receivable balance?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!