This company sells merchandise only on credit. For the year ended December 31, Year 1, the following data are available:
$\begin{array}{lr}
\text { Sales } & \$ 1,200,000 \
\text { Sales returns and allowances } & 50,000 \
\text { Accounts receivable — January 1, Year 1 } & 225,000 \
\text { Allowance for doubtful accounts —January 1, Year 1 } & 15,000 \
\text { Collections during Year 1 } & 1,050,000 \
\text { Accounts written off as uncollected during Year 1 } & 10,000
\end{array}$
-Refer to Aardvark Resale.Determine the balance of accounts receivable at December 31,Year 1.

Question

This company sells merchandise only on credit. For the year ended December 31, Year 1, the following data are available:
 $\begin{array}{lr}
\text { Sales } & \$ 1,200,000 \
\text { Sales returns and allowances } & 50,000 \
\text { Accounts receivable — January 1, Year 1 } & 225,000 \
\text { Allowance for doubtful accounts —January 1, Year 1 } & 15,000 \
\text { Collections during Year 1 } & 1,050,000 \
\text { Accounts written off as uncollected during Year 1 } & 10,000
\end{array}$
-Refer to Aardvark Resale.Determine the balance of accounts receivable at December 31,Year 1.

Quizplus · Accepted Answer

The Answer of This company sells merchandise only on credit. For the year ended December 31, Year 1, the following data are available:
 $\begin{array}{lr}
\text { Sales } & \$ 1,200,000 \
\text { Sales returns and allowances } & 50,000 \
\text { Accounts receivable — January 1, Year 1 } & 225,000 \
\text { Allowance for doubtful accounts —January 1, Year 1 } & 15,000 \
\text { Collections during Year 1 } & 1,050,000 \
\text { Accounts written off as uncollected during Year 1 } & 10,000
\end{array}$
-Refer to Aardvark Resale.Determine the balance of accounts receivable at December 31,Year 1.

This Company Sells Merchandise Only on Credit -Refer to Aardvark Resale