Candle Corporation's adjusted trial balance includes Allowance for Doubtful Accounts at $37,500,Uncollectible Accounts Expense at $18,700,Notes Receivable at $25,000,and Accounts Receivable at $136,800.Net accounts receivable amounts to:
A)$ 99,300
B)$118,000
C)$124,300
D)$143,000

Question

Quizplus · Accepted Answer

Net accounts receivable is calculated as Accounts Receivable minus Allowance for Doubtful Accounts. Therefore, net accounts receivable is $136,800 - $37,500 = $99,300.

Candle Corporation's Adjusted Trial Balance Includes Allowance for Doubtful Accounts