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At the beginning of the current period, Ivanhoe Co. had a balance of $96,000 in Accounts Receivable and a $6,720 credit balance in Allowance for

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At the beginning of the current period, Ivanhoe Co. had a balance of $96,000 in Accounts Receivable and a $6,720 credit balance in Allowance for Doubtful Accounts. In the period, it had net credit sales of $384,000 and collections of $347.040. It wrote off accounts receivable of $11,900 as uncollectible. After a $2,590 account was written off as uncollectible, it was subsequently collected. This is in addition to the other cash collections. Based on an aging schedule, uncollectible accounts are est inated to be $6,400 at the end of the period. (a) Record sales and collections in the period. Ignore any inventory and cost of goods sold for the purposes of this question. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required. select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Record the bad debt expense adjusting entry for the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) eTextbook and Media List of Accounts Attempts: unlimited

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