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At the beginning of the current period, Kingbird Corp. had balances in Accounts Receivable of $191,500 and in Allowance for Doubtful Accounts of $9,890
At the beginning of the current period, Kingbird Corp. had balances in Accounts Receivable of $191,500 and in Allowance for Doubtful Accounts of $9,890 (credit). During the period, it had net credit sales of $733,600 and collections of $767,780. It wrote off as uncollectible accounts receivable of $7,149. However, a $2,957 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,440 at the end of the period. (Omit cost of goods sold entries.) (a-d) Your Answer Correct Answer (Used) (a) (b) Prepare the entries to record sales and collections during the period. Prepare the entry to record the write-off of uncollectible accounts during t (c) (d) Prepare the entries to record the recovery of the uncollectible account duri Prepare the entry to record bad debt expense for the period.
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