1740 Help Save& Exit The following account balances come from the records of Our

Question

1740 Help Save& Exit The following account balances come from the records of Ourso Company Accounts receivable $2, 872 3,450 166 Allowance for doubt.ful 137 kipped During the accounting period, Ourso recorded $11,300 of sales revenue on account. The company also wrote off a $152 account 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 Yes Not for this site Would you Ske to store your pasword for mheducation.com2 Why am Iseeng this? SAMSUNG

Explanation / Answer

a) Calculate collection from Accounts Receivable Opening Balance 2872 Add: Credit Sales 11300 Less: Closing Balance -3450 Less: Amount written off -152 Cash collected from receivables 10570 b) uncollectible accounts expense Closing Balance 166 Amount written off 152 Less: Opening Balance 137 uncollectible accounts expense 181

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