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At December 31, 2021, Wildhorse Co. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts 2. During 2022, the company
At December 31, 2021, Wildhorse Co. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts 2. During 2022, the company had the following transactions related to receivables. 3. 4. 5. (a) Sales on account $604,000 Sales returns and allowances 1 34,000 Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible No Account Titles and Explanation $2,549,000 46,000 2,263,000 38,000 Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 14,000 Debit Credit
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