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Option A $51,000. Beginning Balance $ 53,000 Less: Uncollectibles $ - 2,000 Ending Balance $ 51,000

Larry's Used Cars had $53,000 in accounts receivable at the end of its first year of operations on December 31, 2018. The company estimated that $2,000 of the accounts receivable would be uncollectible. After accounting for the $2,000 in estimated uncollectibles, the amount of accounts receivable to report on the 2018 balance sheet is $51,000.

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58 views3 pages

Option A $51,000. Beginning Balance $ 53,000 Less: Uncollectibles $ - 2,000 Ending Balance $ 51,000

Larry's Used Cars had $53,000 in accounts receivable at the end of its first year of operations on December 31, 2018. The company estimated that $2,000 of the accounts receivable would be uncollectible. After accounting for the $2,000 in estimated uncollectibles, the amount of accounts receivable to report on the 2018 balance sheet is $51,000.

Uploaded by

mohitgaba19
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
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On December 31, 2018, the end of Larry's Used Cars' first year of operations, the accounts receivable was

$53,000. The company


Multiple Choice
$51,000. OPTION a
$2,000. $51,000.
$53,000.
$55,000. Beginning balance $ 53,000
less: uncollectibles $ -2,000
Ending balance $ 51,000
e was $53,000. The company estimates that $2,000 of the year-end receivables will not be collected. Accounts receivable in the 2018 balance sheet will be
in the 2018 balance sheet will be valued at:

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