The following information relates to
Halloran Co.'s accounts receivable for 2011:
|
Accounts receivable
balance, 1/1/11
|
$
859,000
|
|
Credit sales for 2011
|
3,330,000
|
|
Accounts receivable written
off during 2011
|
69,000
|
|
Collections from
customers during 2011
|
3,060,000
|
|
Allowance for
uncollectible accounts balance, 12/31/11
|
219,000
|
|
What amount should Halloran report
for accounts receivable, before allowances, at December 31, 2011?
|
|
$1,060,000.
|
|
|
$1,129,000.
|
|
|
$841,000.
|
|
|
None of the above.
|
Correct answer is $1,060,000.
$859,000 + 3,330,000 − 69,000 − 3,060,000 = $1,060,000
Wish you good luck!
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