Answer:
The balance in account receivable will be "$4623333".
Step-by-step explanation:
Balance of payments allowance at 31/12/2020,
=
= $
Bad dept expense = $169,000
Wrote off of account = $89,300
As we know,
Balance of payments allowance at 1/1/2020 = Balance of payments allowance at 31/12/2020 - Bad debt expense for 2020 + Wrote off
On putting the values in the above formula, we get
⇒ =
⇒ = $
Now,
Account receivable balance at 1/1/2020,
=
= $