On January 1,Year 1,Alliance Company had the following balances for accounts receivable and allowance for doubtful accounts:
$\begin{array}{ll}
\text { Accounts Receivable } & \$ 750,000 \text { (debit) } \
\text { Allowance for Doubtful Accounts } &50,000 \text { (credit) }
\end{array}$
During Year,1 the company made $3,200,000 in credit sales,collected $3,000,000 of accounts receivable and wrote off $20,000 of accounts receivable as uncollected.
Required:
A) What is the company's preadjustment balance in accounts receivable on December 31 , Year 1 ?

Question

On January 1,Year 1,Alliance Company had the following balances for accounts receivable and allowance for doubtful accounts:
 $\begin{array}{ll}
\text { Accounts Receivable } & \$ 750,000 \text { (debit) } \
\text { Allowance for Doubtful Accounts } &50,000 \text { (credit) }
\end{array}$ 
During Year,1 the company made $3,200,000 in credit sales,collected $3,000,000 of accounts receivable and wrote off $20,000 of accounts receivable as uncollected.
Required:
 A) What is the company's preadjustment balance in accounts receivable on December 31 , Year 1 ?

Quizplus · Accepted Answer

The Answer of On January 1,Year 1,Alliance Company had the following balances for accounts receivable and allowance for doubtful accounts:
 $\begin{array}{ll}
\text { Accounts Receivable } & \$ 750,000 \text { (debit) } \
\text { Allowance for Doubtful Accounts } &50,000 \text { (credit) }
\end{array}$ 
During Year,1 the company made $3,200,000 in credit sales,collected $3,000,000 of accounts receivable and wrote off $20,000 of accounts receivable as uncollected.
Required:
 A) What is the company's preadjustment balance in accounts receivable on December 31 , Year 1 ?

On January 1,Year 1,Alliance Company Had the Following Balances for Accounts