Question

Before year-end adjusting entries, Marigold Corp.'s account balances at December 31, 2020, for accounts receivable and the related allowance for uncollectible accounts were $1540000 and $91500, respectively. An aging of accounts receivable indicated that $123000 of the December 31 receivables are expected to be uncollectible. The accounts receivable amount expected to be collected after adjustment is

Answer 1

1,417,000

Step-by-step explanation:

$123000 of the December 31 receivables is to be subtracted from $1540000 of the related allowance for uncollectible accounts

= $1540000 - $123000

= $1,417,000.

The accounts receivable amount expected to be collected after adjustment is $1,417,000