At the Close of Its Third Year of Operations,on December

question 13

Essay

At the close of its third year of operations,on December 31,2014,the Runner Company had receivables of $350,000,which were net of the related allowance for doubtful accounts.During 2014,the company had charges to bad debt expense of $50,000 and wrote off,as uncollectible,accounts receivable of $22,000.Runner had a balance in its allowance for uncollectible accounts at December 31,2013 of $8,100.
Required:
What should the company report on its balance sheet at December 31,2014,as accounts receivable before the allowance for uncollectible accounts?

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Definitions:

Organizational Hierarchy

Organizational hierarchy is a system in which roles and responsibilities are ranked in order from highest to lowest, determining the flow of decision-making and authority.

Cross-Functional Problems

Issues that arise from the interaction of different departments or disciplines within an organization, requiring collaborative solutions.

Coordination Methods

Techniques and approaches utilized to align and manage activities and efforts within an organization or among project members to achieve harmonized goals.

Synergy

The creation of a whole greater than the sum of its parts.