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    lbolding01's Avatar
    lbolding01 Posts: 2, Reputation: 1
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    Nov 27, 2012, 10:34 PM
    Compute the ending balance of accounts receivable.
    Lashkova Company had accounts receivable of $100,000 on January 1, 2014. The only transactions that affected accounts receivable during 2014 were net credit sales of $1,000,000, cash collections of $920,000, and accounts written off $30,000.

    Compute the ending balance of accounts receivable.
    baddfrog0221's Avatar
    baddfrog0221 Posts: 3, Reputation: 2
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    Nov 28, 2012, 11:09 AM
    Lashkova Company had accounts receivable of $100,000 on January 1, 2014. The only transactions that affected accounts receivable during 2014 were net credit sales of $1,000,000, cash collections of $920,000, and accounts written off $30,000.

    Compute the ending balance of accounts receivable.

    Sales will increase A/R; Cash collections will (decrease) A/R; Accounts written off are typically stored in an allowance account and decrease net A/R.
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