Kona Espresso Machine Company makes many of its sales on account. For Year 2, its beginning balance in Accounts Receivable was $190,000. Sales on account for the year were $904,000, and the amount of cash collected from its accounts receivable was $829,900. During the year, uncollectible accounts of $10,100 were written off. What was the ending balance in Accounts Receivable?
What will be an ideal response?
Ending balance in Accounts Receivable = $254,000
Ending balance of accounts receivable = Beginning balance of accounts receivable of $190,000 + Credit sales of $904,000 ?- Collections of $829,900 ? Write-offs of $10,100 = $254,000
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