At the beginning of 2017, EZ Tech Company's Accounts Receivable balance was $241,000, and the balance in Allowance for Doubtful Accounts was $4,100. EZ Tech's sales in 2017 were $1,810,000, 70% of which were on credit. Collections on account during the year were $1,160,000. The company wrote off $7,000 of uncollectible accounts during the year. I have to determine the cash and accounts receivable / stockholders' equity. I have worked the solutions and still unable to get the correct answer.

At the beginning of 2017, EZ Tech Company's Accounts Receivable balance was $241,000, and the balance in Allowance for Doubtful Accounts was $4,100. EZ Tech's sales in 2017 were $1,810,000, 70% of which were on credit. Collections on account during the year were $1,160,000. The company wrote off $7,000 of uncollectible accounts during the year. I have to determine the cash and accounts receivable / stockholders' equity. I have worked the solutions and still unable to get the correct answer.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12MC: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales...

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