1100 is Accounts Receivable for the company determined that $7,200 in customer accounts was uncollectible; specifically, $1,100 for oakley company and $6,100 for brookes company.
Feb 1 Allowance for Doubtful Accounts 7200
Accounts Receivable - Oakley 1100
Accounts Receivable - Brookes 6100
Jun5 Accounts Receivable - Oakley 1100
Allowance for Doubtful Accounts 1100
Jun 5 Cash 1100
Accounts Receivable - Oakley 1100
Accounts receivable (AR) is the remaining amount owed to a business for goods or services that have been delivered or consumed but have company not yet accounts receivable been paid for by clients. The balance sheet classifies accounts receivable as a current asset. Customers' unpaid debt for goods they made with credit is referred to as AR.
The term "accounts receivable" refers to any unpaid bills or cash that a business is owed by customers. The word refers to accounts that a accounts receivable company is entitled to get as a result of delivering a good or service. Accounts receivable, also known as receivables, are a company type of line of credit that a business extends to its customers, and its terms typically call for payments to be made within a short time frame.
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