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#4: worth 16 points Assume the following information for Tag Mountain Corp. Accounts receivable (beginning balance) $147,000 Allowance for doubtful accounts (beginning balance) 11,390 Net
#4: worth 16 points Assume the following information for Tag Mountain Corp. Accounts receivable (beginning balance) $147,000 Allowance for doubtful accounts (beginning balance) 11,390 Net credit sales 900,000 Collections 860,000 Write-offs of accounts receivable 5,500 Collections of accounts previously written off 1,300 Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable). Requirement #1: Prepare the entries to record sales and collections. Dec 31 Requirement #2: Prepare the entry to record the write-off of uncollectible accounts. Dec 31 Requirement #3: Prepare the entries to record the recovery of the uncollectible account. Dec 31 Requirement #4: Prepare the entry to record bad debt expense. Dec 31
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