Compute the ending balance of accounts receivable, Accounting Basics

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Compute the ending balance of accounts receivable

Problem

ABC Company had accounts receivable of €l 15,000 on January 1, 2014. The only transactions that affected accounts receivable during 2014 were net credit sales of €1,200,000, cash collections of €1 ,000,000, and accounts written off of €30,000.

Task

• Compute the ending balance of accounts receivable.

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Accounting Basics: Compute the ending balance of accounts receivable

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