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At January 1, 2024, Hilltop Flagpoles had Accounts Receivable of $28,000, and Allowance for Bad Debts had a credit balance of $3,000. During the
At January 1, 2024, Hilltop Flagpoles had Accounts Receivable of $28,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Hilltop Flagpoles recorded the following transactions for January: (Click the icon to view the transactions.) Read the requirements. Record sales for the year. (b.) Collections on account, $135,000. Date 2024 Jan. Cash Accounts and Explanation Debit Credit Accounts Receivable Collected cash on account. (c.) Write-offs of uncollectible receivables, $2,300. 135,000 135,000 Accounts and Explanation Debit Credit Date 2024 Jan. Allowance for Bad Debts Accounts Receivable 2,300 2,300 Wrote off uncollectible accounts. Requirement 2. Post Hilltop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. Enter the beginning balances and the journal entries, and then compute the unadjusted balance of each account. Accounts Receivable Allowance for Bad Debts
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