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Assume the following information for Kingbird Corp. Accounts receivable (beginning balance) $161,000 Allowance for doubtful accounts (beginning balance) 11,500 Net credit sales 934,000 Collections 907,000
Assume the following information for Kingbird Corp. Accounts receivable (beginning balance) $161,000 Allowance for doubtful accounts (beginning balance) 11,500 Net credit sales 934,000 Collections 907,000 Write-offs of accounts receivable 5,700 Collections of accounts previously written off 1,700 Uncollectible accounts are expected to be 96 of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Account Titles and explanation Debit Credit (to record sales on account) To record collection of accounts receivable) . Prepare the entry to record the write-off of uncollectible con during the period (Cices are automatically when the man den many) Account Tities and Explanation Debit art. Car SHOW LIST OF ACCOUNT Prepare the entries to record the recovery of the uncolindtible account during the period. (Credit accounts are automatically indented when the amount is entered to set it manually) Account Title and explanation Debit Credit (To prestre we off of accounts receivable) (Topcord collection of accounts receivable) Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts Ending balance in Accounts Receivable unadjusted balance in Allowance for Doubtful Accounts HOWLIT OF ACCOUNTS Prepare the entry to record bad debt expense for the period. (Credit account titles are automatically fedented when the amount is entered. Do not indent) Account Titles and Explanation Credit Debe SHOW LINT OF ACCOUNTS Determine the ending (adjusted) balance in Allowance for Doubtful Accounts Ending (adjusted) balance in Allowance for Doubtful Accounts $ rrit
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