Bus 251 Week 8 Tutorial (Ch.6 material

Part I Question 3 The following information relates to Bedford Company’s accounts receivable: Accounts receivable balance – Dec 31, 2019 $ 900,000 Allowance for doubtful accounts – Dec 31, 2019 55,000 Credit Sales made in 2020 5,800,000 Collections from customers on account in 2020 4,900,000 Accounts Receivable written off in 2020 70,000 Accounts Receivable recovered in 2020 6,000 REQUIRED: a) Calculate the ending balance in A/R b) Calculate the Allowance for Doubtful Accounts balance before adjustment c) Calculate the bad debts expense This study source was downloaded by from CourseH on :26:57 GMT -05:00 Pt 1 Q3 a. & b. a. Accounts Receivable (Opening) 900,000 (Credit Sales) 5,800,000 (Recovery) 6,000 4,900,000 (Collections) 70,000 (A/R Written Off) 6,000 (Recovery Redemption) $1,730,000