Xyz wrote off uncollectible accounts totaling 20000 during, Ask an Expert

Accounting

XYZ Co. reported sales revenue of $4,600,000 in its income statement for the year ended December 31, 20010.

Additional information is as follows:

12/31/09 12/31/10
Accounts Receivable $1,000,000 $1,300,000
Allowance for uncollectible accounts (60,000) (110,000)

XYZ wrote off uncollectible accounts totaling $20,000 during 2010. Under the cash basis of accounting XYZ would have reported 2010 sales of ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M987710

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