During the year they wrote off a total of 50000 worth of


At the beginning of the year, Jones Corp had receivables of $500,000 and an allowance for doubtful accounts of $40,000 (net receivables on the balance sheets was $460,000). During the year, they had sales of $4,000,000 and and collected $3,900,000 from customers. They estimate that 2% of their sales will not be collected. During the year, they wrote off a total of $50,000 worth of specific receivables as uncollectible. What is their net receivables at the end of the year?

a) $440,000 b) $480,000 c) $540,000 d)$600,000

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Accounting Basics: During the year they wrote off a total of 50000 worth of
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