The following account balances come from the records of Ourso Company: Beginning Balance Ending Balance Accounts receivable $ 2,677 $ 3,600 Allowance for doubtful accounts 147 198 During the accounting period, Ourso recorded $12,350 of sales revenue on account. The company also wrote off a $183 account receivable. Required a. Determine the amount of cash collected from receivables.

A. $10,694

B.$234

Explanation:

A. Calculation to Determine the amount of cash collected from receivables.

Beginning accounts receivable$ 2,677

Add Sales Revenue$11,800

Less Ending accounts receivable($ 3,600)

Less Accounts receivable wrote off($183)

Cash collected from receivables$10,694

Therefore the amount of cash collected from receivables will be $10,694

B. Calculation to Determine the amount of uncollectible accounts expense recognized during the period.

Beginning balance in Allowance for Doubtful Accounts147

Less Accounts receivable wrote off($183)

Less Ending balance in Allowance for Doubtful Accounts(198)

Uncollectible accounts expense$234

Therefore the amount of uncollectible accounts expense recognized during the period will be $234

The term that is described in the problem is called accounts receivable. This means that in the future, you are anticipating something to go to your inflow. Since the Dr. is considering 30 days for them to pay the charges, he is still yet to receive the payment in the future. This is a common element in accounting money.