10/10

At the beginning of the current period, Marigold Corp. had balances in Accounts Receivable of $172,000 and in Allowance for Doubtful Accounts of $7,740. During the period, it had net credit sales of $688,000 and collections of $656,180. It wrote off as uncollectible accounts receivable of $6,278. Uncollectible accounts are estimated to total $21,500 at the end of the period. (Omit recording cost of goods sold.) (ac) Enter the beginning balances for Accounts Receivable and Allowance for Doubtful Accounts in a tabular summary. Use the summary to record transactions (a), (b), and (c) below. (a) Record sales and collections during the period. (b) Record the write-off of uncollectible accounts during the period. (c) Record bad debt expense for the period, (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e. . (45).) (Enter negative amounts using either a negative sign preceding the number eg. - 45 or parentheses e.g. (45).)