Question

On December 31, 2016, the end of Larry's Used Cars' first year of operations, the accounts receivable was $53,800. The company estimates that $1,700 of the year-end receivables will not be collected. Accounts receivable in the 2016 balance sheet will be valued at:

A. $55,500.
B. $1,700.
C. $52,100.
D. $53,800.

Answer 1

Answer:

accounts Receivable = $52,100

correct option is C. $52,100

Explanation:

given data

accounts receivable = $53,800

company estimates = $1,700

solution

we get here accounts Receivable that is express as

accounts Receivable = accounts receivable - company estimates     ................1

accounts Receivable = $53,800 - $1,700

accounts Receivable = $53,800 - $1,700

accounts Receivable = $52,100

correct option is C. $52,100