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At the beginning of the current period, Chris Corp. had balances in Accounts Receivable of $213,500 and in Allowance for Doubtful Accounts of $8,500 (credit).
At the beginning of the current period, Chris Corp. had balances in Accounts Receivable of $213,500 and in Allowance for Doubtful Accounts of $8,500 (credit). During the period, it had credit sales of $878,100 and collections of $704,650. Cost of the merchandise sold was $412,300. It wrote off as uncollectible accounts receivable of $7,543. However, a $3,093 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24.950 at the end of the period. - List debit transactions first and then list credit transactions. - Use accounts provided in the Chart of Accounts above. Do NOT create your own account. - When typing your responses, do NOT include a dollar sign. For example, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign. To record the cost of the sale 2. To record collection from customers 3. To record amount written off 4. To reinstate account previously written off To record collection of write-off To record collection of write-off 5. To record estimated bad debts for the year
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