question archive 4) On December 31, 20X2, the close of its third year of operations, the Runner Company had receivables of $400,000, which were net of the related allowance for credit losses
4) On December 31, 20X2, the close of its third year of operations, the Runner Company had receivables of $400,000, which were net of the related allowance for credit losses
Subject:AccountingPrice: Bought3
4) On December 31, 20X2, the close of its third year of operations, the Runner Company had receivables of $400,000, which were net of the related allowance for credit losses. During 20X2, the company had additions to allowance for credit losses of $50,000 and wrote off, as uncollectible, accounts receivable of $22,000. Runner had a balance in its allowance for credit losses accounts at December 31, 20X1 of $9,000.
Required:
Determine the amount that Runner should report on its balance sheet at December 31, 20X2, as accounts receivable, before the allowance for credit losses accounts.
