Accelerated Solutions
the Following Information Is from the Company's Records

question 152

Multiple Choice

Accelerated Solutions
The following information is from the company's records for Year 1:
$\begin{array}{lr}\text { Accounts receivable - January 1, Year 1 } & 350,000 \\\text { Credit sales during Year 1 } & 1,200,000 \\\text { Collections from credit customers during Year 1 } & 850,000 \\\text { Customer accounts written off as uncollected during Year 1 } & 10,000 \\\text { Allowance for doubtful accounts -January 1, Year 1 } & 35,000 \\\text { Estimated uncollected accounts based on an aging analysis } & 50,000\end{array}$
-Refer to the figure Accelerated Solutions.What is the balance of accounts receivable at December 31,Year 1?

• A) $340,000
• B) $690,000
• C) $700,000
• D) $710,000

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Definitions:

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