The following account balances come from the records of Ourso Company:

The following account balances come from the records of Ourso Company:
 

	Beginning Balance			Ending Balance
Accounts receivable	$	2,965		$	3,410
Allowance for doubtful accounts		147			192

 

During the accounting period, Ourso recorded $12,300 of sales revenue on account. The company also wrote off a $120 account receivable.

  

Required

a.	Determine the amount of cash collected from receivables.

Explanation
a.

Analyze the Accounts Receivable account:

  

Accounts Receivable
Beginning balance	$	2,965
Plus: Revenue on Account		12,300
Less: Write-off		(120	)
Less: Ending Balance		(3,410	)
Collections of accounts Rec.	$	11,735

b.

Analyze the Allowance for Doubtful Accounts account:

  

Allowance for Doubtful Accounts
Beginning Balance	$	147
Less: Write-off		(120	)
Less: Ending Balance		(192	)
Uncollectible accounts expense	$	165

Thank you!