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The following account balances come from the records of Ourso Company: Beginning Balance Ending...

Question:

The following account balances come from the records of Ourso Company:

Beginning Balance Ending Balance
Accounts receivable $3,160 $3,811
Allowance for doubtful accounts 150 186

During the accounting period, Ourso recorded $11,100 of sales revenue on account. The company also wrote off a $150 account receivable.

a. Determine the amount of cash collected from receivables

b. Determine the amount of uncollectible accounts expense recognized during the period

Un-collectible Accounts:

Un-collectible Accounts are those loans, debts or receivables which do not have a chance of getting paid. There are many reasons for the accounts for becoming uncollectable, such as death, bankruptcy, etc.

Answer and Explanation:

Accounts receivable, Beginning balance $3160
Add: Sales on account $11100
Less: Written off $(150)
Less: Accounts receivable, Ending balance $(3811)
Collection of accounts receivable $10,299

b)

Allowance for the doubtful account, Ending balance $186
Add: Written off $150
Less: Allowance for the doubtful account, Begining balance $(150)
Baddebt expenses $186

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Accounts Receivable Journal Entries

from Financial Accounting: Homework Help Resource

Chapter 3 / Lesson 20
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