Accounts receivable, 1/1/x2 $ 650,000 credit sales for 20x2 2,700,000 sales returns for 20x2 75,000 accounts written of during 20x2 40,000 collections from customers during 20x2 2,150,000 estimated future sales returns at 12/31/x2 50,000 estimated uncollectible accounts at 12/31/x2 110,000 what amount should jay report for accounts receivable, before allowances for sales returns and uncollectible accounts, at december 31, 20x2?

gross account receivable: 1,085,000

net account receivable:       925,000

Explanation:

Before adjustment, will be the gross account receivables, after subtracting the allowance account we got the net account receivable.

Beginning Account Receivable: 650,000

Credit sales for the period:       2,700,000

Sales Return                                   (75,000)

Collection from the customers (2,150,000)

write-off receivables:                      (40,000)  

Account receivables (gross)       1,085,000

Allowance for uncollectible

and returns:                                   (160,000)

Account Receivable (net)              925,000

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.

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