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18 May, 03:03

As part of the initial investment, Jackson contributes accounts receivable that had a balance of $35,017 in the accounts of a sole proprietorship. Of this amount, $1,229 is deemed completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $740. The amount debited to Accounts Receivable for the new partnership is

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  1. 18 May, 04:31
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    Answer: $33788

    Explanation:

    From the question, we are told that as part of the initial investment, Jackson contributes accounts receivable that had a balance of $35,017 in the accounts of a sole proprietorship and of this amount, $1,229 is deemed completely worthless.

    The amount that will be debited to the accounts receivable for the new partnership will be the difference between the balance of $35017 and the $1229 that is seen as been worthless.

    = $35017 - $1229

    = $33788
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