At the Close of Its First Year of Operations, December

question 166

Multiple Choice

At the close of its first year of operations, December 31, 2014, Ming Company had accounts receivable of $1,080,000, after deducting the related allowance for doubtful accounts. During 2014, the company had charges to bad debt expense of $180,000 and wrote off, as uncollectible, accounts receivable of $80,000. What should the company report on its balance sheet at December 31, 2014, as accounts receivable before the allowance for doubtful accounts?

• A) $1,340,000
• B) $1,180,000
• C) $980,000
• D) $880,000

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