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At December 31, Hawke Company reports the following results for its calendar year. Cash sales $1,930,920 Credit sales $3,749,000 In addition, its unadjusted trial
At December 31, Hawke Company reports the following results for its calendar year. Cash sales $1,930,920 Credit sales $3,749,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable $1,135,947 debit Allowance for doubtful accounts $ 29,570 debit Problem 7-2A (Algo) Part 3 3. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. (Do not round intermediate calculations.) Answer is complete but not entirely correct. Current assets: Accounts receivable $ 1,135,947) Less: Allowance for doubtful accounts 18,962,020 (17,826,073)
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