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 ba...
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