Question
At the beginning of 2017, EZ Tech Company's Accounts Receivable balance was $154,000, and the balance in Allowance for Doubtful Accounts was $2,600. EZ Tech's
At the beginning of 2017, EZ Tech Company's Accounts Receivable balance was $154,000, and the balance in Allowance for Doubtful Accounts was $2,600. EZ Tech's sales in 2017 were $1,160,000, 90% of which were on credit. Collections on account during the year were $740,000. The company wrote off $4,000 of uncollectible accounts during the year.
Identify and analyze the transactions related to the write-offs of accounts receivable during 2017.
Balance Sheet | Income Statement | |||||||||||||
Stockholders' | Net | |||||||||||||
Assets | = | Liabilities | + | Equity | Revenues | Expenses | = | Income | ||||||
Accounts PayableAllowance for Doubtful AccountsBad Debts ExpenseCashNotes ReceivableNo EntryAllowance for Doubtful Accounts | fill in the blank f28b82fc3044fd1_2 | Accounts PayableAccounts ReceivableAllowance for Doubtful AccountsBad Debts ExpenseNotes PayableNo EntryNo Entry | fill in the blank f28b82fc3044fd1_4 | fill in the blank f28b82fc3044fd1_5 | Accounts PayableAccounts ReceivableAllowance for Doubtful AccountsBad Debts ExpenseNotes PayableNo Entry | fill in the blank f28b82fc3044fd1_7 | Accounts PayableAllowance for Doubtful AccountsBad Debts ExpenseCashNotes ReceivableNo Entry | fill in the blank f28b82fc3044fd1_9 | fill in the blank f28b82fc3044fd1_10 | |||||
Accounts PayableAccounts ReceivableBad Debts ExpenseCashNotes ReceivableNo EntryAccounts Receivable | fill in the blank f28b82fc3044fd1_12 | Accounts PayableAccounts ReceivableAllowance for Doubtful AccountsBad Debts ExpenseNotes PayableNo EntryNo Entry | fill in the blank f28b82fc3044fd1_14 |
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