The following information was presented in the balance sheet of Acworth Pools as of December 31,2012: Trade accounts receivable, net of allowance for doubtful
accounts of $ \$ 200,000 $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \quad $ $ \$ 1,700,000 $ Select the incorrect statement from the following.

Question

The following information was presented in the balance sheet of Acworth Pools as of December 31,2012: Trade accounts receivable, net of allowance for doubtful
accounts of $ \$ 200,000 $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $  $ \quad $ $ \$ 1,700,000 $ Select the incorrect statement from the following.

Quizplus · Accepted Answer

The balance in the Accounts Receivable account in the company's general ledger is actually $1,900,000, which is the sum of the net receivables ($1,700,000) and the allowance for doubtful accounts ($200,000).

The Following Information Was Presented in the Balance Sheet of Acworth