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The following information is available for Reigen Company relating to 2019 operations:   Accounts Receivable, January 1                                                                 4,000,000 Accounts receivable collected                                                                    8,400,000 Cash sales                                                                                                           2,000,000 Inventory, Jan. 1                                                                                              4,800,000 Inventory, Dec. 31                                                                                           4,400,000 Purchases                                                                                                           8,000,000 Gross Margin on Sales                                                                                   4,200,000   What is the balance of accounts receivable on December 31, 2019?

The following information is available for Reigen Company relating to 2019 operations:   Accounts Receivable, January 1                                                                 4,000,000 Accounts receivable collected                                                                    8,400,000 Cash sales                                                                                                           2,000,000 Inventory, Jan. 1                                                                                              4,800,000 Inventory, Dec. 31                                                                                           4,400,000 Purchases                                                                                                           8,000,000 Gross Margin on Sales                                                                                   4,200,000   What is the balance of accounts receivable on December 31, 2019?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 6MC: Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts...
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The following information is available for Reigen Company relating to 2019 operations:

 

Accounts Receivable, January 1                                                                 4,000,000

Accounts receivable collected                                                                    8,400,000

Cash sales                                                                                                           2,000,000

Inventory, Jan. 1                                                                                              4,800,000

Inventory, Dec. 31                                                                                           4,400,000

Purchases                                                                                                           8,000,000

Gross Margin on Sales                                                                                   4,200,000

 

What is the balance of accounts receivable on December 31, 2019?

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