Ask Question
14 February, 21:42

As part of the initial investment, Jackson contributes accounts receivable that had a balance of $32,290 in the accounts of a sole proprietorship. Of this amount, $1,367 is deemed completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $848. gThe amount debited to Accounts Receivable for the new partnership is a.$31,442 b.$32,290 c.$30,923 d.$30,075

+3
Answers (1)
  1. 15 February, 00:44
    0
    Answer: $30,923

    Explanation:

    From the question, we are told that as part of an initial investment, Jackson contributes accounts receivable that had a balance of $32,290 in the accounts of a sole proprietorship. Out of the amount, $1,367 is deemed completely worthless and for the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $848.

    The amount debited to accounts Receivable for the new partnership will be the difference between the account receivable balance and the amount that was deemed worthless. This will be:

    = $32,290 - $1,367

    = $30,923

    Therefore, the amount debited to Accounts Receivable for the new partnership will be $30,923
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “As part of the initial investment, Jackson contributes accounts receivable that had a balance of $32,290 in the accounts of a sole ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers