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At the beginning of the current period, Blue Spruce Corp. had balances in Accounts Receivable of 5244,000 and in Allowance for Doubtful Accounts of $10,980.
At the beginning of the current period, Blue Spruce Corp. had balances in Accounts Receivable of 5244,000 and in Allowance for Doubtful Accounts of $10,980. During the period, it had net credit sales of $976.000 and collections of $930.860. It wrote off as uncollectible accounts receivable of $8,906. Uncollectible accounts are estimated to total $30,500 at the end of the period. (Omit recording cost of goods sold.) (ac) Enter the beginning balances for Accounts Receivable and Allowance for Doubtful Accounts in a tabular summary. Use the summary to record transactions (a), (b), and (c) below. (a) Record sales and collections during the period. (b) Record the write-off of uncollectible accounts during the period. (c) Record bad debt expense for the period. uncollectible accounts receivable of $8,906. Uncollectible accounts are estimated to total $30.500 at the end of the period. (Omi recording cost of goods sold.) (ac) Enter the beginning balances for Accounts Receivable and Allowance for Doubtful Accounts in a tabular summary. Use the summary to record transactions (a), (b), and (c) below. (a) Record sales and collections during the period. (b) Record the write-off of uncollectible accounts during the period. (c) Record bad debt expense for the period. (Enter negative amounts using either a negative sign preceding the number eg. 45 or parentheses es. (45).)
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