At the beginning of year 3 omega company had a $52,000 balance in its accounts receivable account and a $1,400 balance in allowance for doubtful accounts. during year 3 omega experienced the following events. (1) omega earned $220,000 of revenue on account. (2) collected $230,000 cash from accounts receivable. (3) wrote-off $1,000 of accounts receivable as uncollectible. omega estimates uncollectible accounts to be 4% of receivables. based on this information, the december 31, year 3 balance in the accounts receivable account isa. $41,000.b. $40,000.c. $52,000.d. none of the answers is correct.

Based on this information, the December 31, Year 3

Balance in the accounts receivable account isa.

$41,000

Explanation:

Dr Accounts Receivable  $ 52,000

Cr Allowance for doubtful accounts$ 1,400

Dr Accounts Receivable  $ 220,000

Cr SALES$ 220,000

Dr CASH$ 230,000

Cr Accounts Receivable  $ 230,000

Dr Allowance for Uncollectible Accounts$ 1.000

Cr Accounts Receivable  $ 1.000

The final balance of those movements it's detailed as follows:

FINAL Balance  

Dr Accounts Receivable  $ 41.000

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