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At the beginning of the year, accounts receivable were $45,000 and the allowance for bad debts was $4,200. During the year, sales (all on account) were $180,000, cash collections were $165,000, bad debts expense totaled $3,100, and $2,600 of accounts receivable were written off as bad debts. The balance at the end of the year for the Accounts Receivable account was: Multiple Choice $42,400. $54,300. $57,400. $60,000.

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Answer:

$57,400

Explanation:

Calculation to determine what The balance at the end of the year for the Accounts Receivable account was

Using this formula

Ending balance in accounts receivable = Accounts receivable-Accounts receivable written off as bad debts+Sales on account-Cash collections

Let plug in the formula

Ending balance in accounts receivable = $45,000 - $2,600 + $180,000 - $165,000

Ending balance in accounts receivable = $57,400

Therefore The balance at the end of the year for the Accounts Receivable account was $57,400

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