At what amount will accounts receivable be reported on the balance sheet if the gross receivable balance is $94,000 and the allowance for uncollectible accounts is estimated at 8% of gross receivables?
A) $99,760
B) $86,480
C) $90,240
D) $56,400

Question

Quizplus · Accepted Answer

Receivables are reported net of the allowance account.
In this case, $94,000 - ($94,000 x 8%) = $86,480.

At What Amount Will Accounts Receivable Be Reported on the Balance