3d. The balance in Dodds Corp’s accounts receivable at the beginning of 2018 was

Question

3d.    The balance in Dodds Corp’s accounts receivable at the beginning of 2018 was $300. During 2018, $1,600 of credit sales were recorded. The ending balance in accounts receivable was $250 and $100 in accounts receivable were written off during the year.

How much cash did Dodds collect from customers during 2018?

3g.      Shea Produce estimates bad debt expense at ½% of ending accounts receivable. Shea reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650, respectively, at December 31, 2017. During 2018, Shea's credit sales and collections were $315,000 and $319,000, respectively, and $1,720 in accounts receivable were written off.

What is Shea's final balance in its allowance for uncollectible accounts at December 31, 2018?

Explanation / Answer

As per chegg guidelines we answer one question per post. Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Amount Q3d cash Dodds collect from customers during 2018                  1,550.00 Beginning account receivable                      300.00 credit sales                  1,600.00 total Account receivable before collection and write off                  1,900.00 total Account receivable after collection and write off                      250.00 Collection and write off                  1,650.00 Write off                      100.00 collection = 1650 - 100                  1,550.00

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