a******1
发帖数: 216 | 1 In its December 31, Year 1, balance sheet, Fleet Co. reported accounts
receivable
of $100,000 before allowance for uncollectible accounts of $10,000. Credit
sales
during Year 2 were $611,000, and collections from customers, excluding
recoveries, totaled $591,000. During Year 2, accounts receivable of $45,000
were
written off and $17,000 were recovered. Fleet estimated that $15,000 of the
accounts receivable at December 31, Year 2, were uncollectible. In its
December
31, Year 2, balance sheet, what amount should Fleet report as accounts
receivable
before allowance for uncollectible accounts?
a. $58,000
b. $67,000
c. $75,000
d. $82,000
Explanation
Choice "c" is correct. The question requires the determination of accounts
receivable before the allowance for
uncollectible accounts. The calculation of the accounts receivable balance
is:
B Beginning: A/R 1/1/Year 2 $100,000
A Additions: Credit sales 611,000
Recoveries 17,000
S Subtracts: Collections (591,000)
Collections (Recovery) (17,000)
Written-off A/R (45,000)
E Ending: A/R 12/31/Year 2 $ 75,000
为什么这个ｒｅｃｏｖｅｒｉｅｓ要加了再减阿？
另外，有很多题我看了解答还是不懂，大家如果有这种情况怎么处理呢？谢谢 | d******6
发帖数: 10 | 2 When an already write-off account becomes collectable, Debit AR, Credit AR
allowance. When cash is collected, Debit Cash and Credit AR.
When an already write-off account becomes collectable, it is an judgment. It
may not eventually be paid. | a******1
发帖数: 216 | |
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