At the beginning of the current period, Jazz Corp. had balances in Accounts Receivable of $200,000 and an Allowance for Doubtful Accounts of $9,000 (credit). During the period, it had net credit sales of $800,000 and collections of $763,000. It wrote off as uncollectible accounts receivable of $7,300. However, a $3,100 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,000 at the end of the period. (Omit cost of goods sold entries.) Prepare your Journal entries and post them to the T-Account in your notepaper then answer the following questions:

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Instructions

(a) Prepare the entries to record sales and collections during the period.

(b) Prepare the entry to record the writeoff of uncollectible accounts during the period.

(c) Prepare the entries to record the recovery of the uncollectible account during the period.

(d) Prepare the entry to record bad debt expenses for the period.

(e) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts.

(f) What is the net realizable value of the receivables at the end of the period?