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Assume the following information for Skysong Corp. Accounts receivable (beginning balance) $140,000 Allowance for doubtful accounts (beginning balance) 11,420 Net credit sales 932,000 Collections
Assume the following information for Skysong Corp. Accounts receivable (beginning balance) $140,000 Allowance for doubtful accounts (beginning balance) 11,420 Net credit sales 932,000 Collections 913,000 Write-offs of accounts receivable Collections of accounts previously written off 6,000 2,100 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Part 1 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 Y
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