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At the beginning of the current period, Bramble Corp. had balances in Accounts Receivable of $236,000 and in Allowance for Doubtful Accounts of $10,620.
At the beginning of the current period, Bramble Corp. had balances in Accounts Receivable of $236,000 and in Allowance for Doubtful Accounts of $10,620. During the period, it had net credit sales of $944,000 and collections of $900,340. It wrote off uncollectible accounts receivable of $8,614. Uncollectible accounts are estimated to total $29,500 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. Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. Increases in expenses require a negative sign or parentheses. -Increases to Allowance for Doubtful Accounts require a negative sign or parentheses. (b) (c) Beg. Bal. (a) CA $ Assets Cash Accts. Rec. GA Allow. For Doubtful Accts. = Liabilities $ Common Stock CA Rev. Stockholders' Equity Retained Earnings Exp. 6A
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