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IRINA_888 [86]
2 years ago
6

At the close of its first year of operations, December 31, 2010, Ming Company had accounts receivable of $540,000, after deducti

ng the related allowance for doubtful accounts. During 2010, the company had charges to bad debt expense of $90,000 and wrote off, as uncollectible, accounts receivable of $40,000. What should the company report on its balance sheet at December 31, 2010, as accounts receivable before the allowance for doubtful accounts?
Business
1 answer:
masha68 [24]2 years ago
4 0

Answer:

The company report on its balance sheet at December 31, 2010, as accounts receivable before the allowance for doubtful account is $590,000

Explanation:

The computation of the accounts receivable before the allowance is shown below:

= Beginning account receivable balance + bad debt expense -  uncollectible accounts receivable

= $540,000 + $90,000 - $40,000

= $590,000

The bad debt is an expense so it will be added whereas the account receivable which is not yet collected should be deducted in the computation part.  

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Answer:

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Answer:

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