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accoun Question 6 of 7 0.42/3 INI At the beginning of July, Oak Limited, which records adjusting entries at the end of each month, had
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Question 6 of 7 0.42/3 INI At the beginning of July, Oak Limited, which records adjusting entries at the end of each month, had an Accounts Receivable amount of $29,700 and an Allowance for Doubtful Accounts balance of $5,000. During July, the company had credit sales of $39.800 and collected $35 700 from customers. It also wrote off a certain amount of uncollectible receivables during the month and recorded a certain amount of bad debts expense at the end of the month. No accounts that were written off during the month were subsequent recovered. At the end of July, after all journal entries had been recorded and posted, the balance in Accounts Receivable was $31.00 while Allowance for Doubtful Accounts had a balance of $4,600. (a) Your answer is partially correct Prepare Taccounts for Accounts Receivable and Allowance for Doubtful Accounts. Post the above transactions and determine the missing amounts for the write off of uncollectible receivables and bad debts expense. Accounts Receivable July 1 Balance 29700 Collections 35700 Sales 39800 Write offs July 31 Balance Allowance for Doubtful Accounts Your answer is partially correct. Prepare T accounts for Accounts Receivable and Allowance for Doubtful Accounts. Post the above transactions and determ the missing amounts for the write off of uncollectible receivables and bad debts expense. Accounts Receivable 29700 July 1 Balance Collections 35700 Sales 39800 Write offs July 31 Balance Allowance for Doubtful Accounts Write offs July 1 Balance DATA Step by Step Solution
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