Answered
Echo Company's 2014 beginning and ending accounts receivable balances were $72,500 and $41,250 respectively.During 2014,the company's sales (all on credit) amounted to $857,250.Per Echo's 2014 cash flow statement,$873,500 was collected from customers while $18,750 related to uncollectible accounts was listed among the "non-cash expenses." If Echo's beginning balance in the allowance for uncollectibles was $17,600,the ending balance in this account must be
A) $15,000.
B) $21,350.
C) $36,350.
D) The required "allowance for uncollectibles" balance cannot be determined from the data given.
On Jun 10, 2024