Suppose Columbia Sportswear Company had accounts receivable of $321,721,500 on January 1, 2017, and $204,269,600 on December 31, 2017. Assume sales revenue was $1,266,847,700 for the year 2017.
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John Den Bear Company had a $450,000 beginning balance in Accounts Receivable and a $18,000 credit balance in the Allowance for Doubtful Accounts. During the year, credit sales were $1,800,000 and customers' accounts collected were $1,770,000.
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