This is for a past quiz with answers already posted Accounts receivable: $100,000 debit

Wilson has the following balances on January 1, 2019.

Allowance for uncollectible accounts: $15,000 credit

During 2019, the following transactions occurred:

*Sales of $500,000 on account

*Wrote off accounts totaling $40,000

*Collected $473,000 on accounts

*Estimated 2019 bad debts to be 10% of credit sales

At December 31, 2019, what amount of Net Accounts Receivable would Wilson report on

the balance sheet? (Please include each step)

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