Friday, October 10, 2014

During the year, the $1,302,840 was collected from customers on account, and $15,510 of...

All sales are on account. At the beginning of the year, Accounts Receivable and Allowance for Uncollectible Accounts had balances of $655,050 and $24,750, respectively. The end-of-the-year balances in Accounts Receivable and Allowance for Uncollectible Accounts are $511,500 and $20,400, respectively. During the year, the $1,302,840 was collected from customers on account, and $15,510 of uncollectible accounts were written off. What amount of revenue was reported for the year?

a. $1,829,850

b. $1,461,900

c. $1,287,330

d. $1,174,800

e. None of the above.

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