The following information is available for Closer Company relative to 2014 operations: What is Closer Company's accounts receivable balance at December 31,2014?

Question

The following information is available for Closer Company relative to 2014 operations:  What is Closer Company's accounts receivable balance at December 31,2014?

Quizplus · Accepted Answer

The accounts receivable balance can be found by subtracting the allowance for doubtful accounts ($20,000) from the total accounts receivable turnover ($82,000 + $20,000 = $102,000). Therefore, the accounts receivable balance is $102,000 - $20,000 = $82,000.

The Following Information Is Available for Closer Company Relative to 2014