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As part of the initial investment, Jackson contributes accounts receivable that had a balance of $25,581 in the accounts of a sole proprietorship. Of this amount, $1,347 is deemed completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $807. The amount debited to Accounts Receivable for the new partnership is a.$25,581

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anthougo

Answer:

The amount debited to the Accounts Receivable for the new partnership is:

= $2,434.

Explanation:

a) Data and Calculations:

Accounts receivable balance = $25,581

less amount deemed completely worthless = $1,347

Balance after deduction = $2,434.

Provision for possible future uncollectible accounts = $807

b) The Accounts Receivable balance will not exclude the $807 provision for possible future uncollectible accounts.  The probability of not collecting the accounts is not established.

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