# Accounting

Solve for trade accounts receivable, allowance for doubtful accounts, and prepare current assets section of balance sheet as of 12/31/04.

Ending Balance
Item - 12/31/03 - 12/31/04
Cash - \$20,000 - \$15,000
Trade accts rec - \$40,000 - \$???
Allowance for doubtful accts - \$5,500 - \$???
Inventories - \$85,000 - \$80,000
Current liabilities - \$80,000 - \$86,000
Total credit sales - \$480,000 - \$550,000
Collections on trade accts rec - \$440,000 - \$500,000

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