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At the beginning of the current period, Blue Spruce Corp. had balances in Accounts Receivable of $244,000 and in Allowance for Doubtful Accounts of
At the beginning of the current period, Blue Spruce Corp. had balances in Accounts Receivable of $244,000 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.) (a-c) 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 eg (45)) Assets Liabiliti Allow. For Cash Accts. Rec. Doubtful Accts Beg Bal $
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