On December 31, 2009, the end of Larry's Used Cars first year of operations, the accounts receivable was $53,600. The company estimates that $1,200 of the year-end receivables will not be collected. Accounts receivable in the 2009 balance sheet will be valued at:

Question

Quizplus · Accepted Answer

The accounts receivable balance at the end of the year is $53,600, but $1,200 of that is estimated to be uncollectible. Therefore, the accounts receivable that will be included in the balance sheet is $53,600 - $1,200 = $52,400. Therefore, option C is the correct answer.

On December 31, 2009, the End of Larry's Used Cars