Accounts receivable	$305,000
Allowance for doubtful accounts	$-36,600
Net realizable value	$268,400

During 2020, the company had the following summary transactions:

a. Sales on account, $3,312,000; cost of goods sold, $1,490,000

b. Products returned by customers, $66,000; cost of inventory returned, $30,000

c. Cash collections on accounts receivable, $3,047,000

d. Write-offs of accounts receivable determined to be uncollectable, $45,750

e. A customer that was previously written off sent in a cheque for $4,100

f. You estimate that $55,000 of your accounts receivable will be uncollected in the upcoming year.

The entry to record transaction (c) would include which of the following? Select ALL that apply.

a)	Increase Allowance for Doubtful Accounts

b)	Increase Cash

c)	Increase Accounts Receivable

d)	Increase Cost of Goods Sold

e)	No entry required

f)	Increase Bad Debt Expense

g)	Decrease Bad Debt Expense

h)	Decrease Accounts Receivable

i)	Decrease Cost of Goods Sold

j)	Decrease Cash

k)	Decrease Allowance for Doubtful Accounts

The entry to record transaction (d) would include which of the following? Select ALL that apply.

a)	Decrease Cash

b)	Decrease Accounts Receivable

c)	Decrease Bad Debt Expense

d)	Decrease Cost of Goods Sold

e)	Increase Accounts Receivable

f)	Increase Bad Debt Expense

g)	No entry required

h)	Decrease Allowance for Doubtful Accounts

i)	Increase Allowance for Doubtful Accounts

j)	Increase Cash

k)	Increase Cost of Goods Sold

The entry to record transaction (e) would include which of the following? Select ALL that apply. (4 marks)

a)	Increase Cash

b)	Decrease Cash

c)	Decrease Cost of Goods Sold

d)	Decrease Allowance for Doubtful Accounts

e)	Decrease Bad Debt Expense

f)	Increase Cost of Goods Sold

g)	Decrease Accounts Receivable

h)	No entry required

i)	Increase Accounts Receivable

j)	Increase Allowance for Doubtful Accounts

k)	Increase Bad Debt Expense

The entry to record transaction (f) would include which of the following? Select ALL that apply.

a)	Decrease Cost of Goods Sold

b)	Increase Bad Debt Expense

c)	Increase Allowance for Doubtful Accounts

d)	Increase Cost of Goods Sold

e)	Increase Accounts Receivable

f)	Increase Cash

g)	Decrease Allowance for Doubtful Accounts

h)	Decrease Accounts Receivable

i)	No entry required

j)	Decrease Cash

k)	Decrease Bad Debt Expense