Homework SourseThe Doyle Merchandising Companys December 31 balance sheet c
The Doyle Merchandising Company’s December 31 balance sheet contained the following information. If the Doyle Merchandising Company were to predict the dollar amount of cash it would receive from collecting its December 31 accounts receivable, what is the total dollar amount of cash the company would predict it would receive?
Assets
Current Assets
Cash
$9,000
Accounts Receivable
$14,000
Allowance for Uncollectible Accounts
$1,200
$12,800
Merchandise Inventory
$26,000
Supplies
$1,300
Prepaid Insurance
$1,900
$0
$14,000
$1,200
$12,800
$9,000
| Assets | ||
| Current Assets | ||
| Cash | $9,000 | |
| Accounts Receivable | $14,000 | |
| Allowance for Uncollectible Accounts | $1,200 | $12,800 |
| Merchandise Inventory | $26,000 | |
| Supplies | $1,300 | |
| Prepaid Insurance | $1,900 |
Solution
the total dollar amount of cash the company would predict it would receive from collecting its December 31 accounts receivable is $ 12800 ( i.e net coounts receivable )
Option D is correct.
