At the beginning of the current period, Kingbird, Inc. had balances in Accounts Receivable of $200,900 and in Allowance for Doubtful Accounts of $9,080. During the period, it had net credit sales of $787,700 and collections of $755,550. It wrote off as uncollectible accounts receivable of $7,106. Uncollectible accounts are estimated to total $23,450 at the end of the period. (Omit recording cost of goods sold.)

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.

(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Assets

=

Liabilities

+

Stockholders' Equity

Allow. For

Retained Earnings

Cash

+

Accts. Rec.

-

Doubtful Accts

=

+

Common Stock

+

Rev.

-

Exp.

Beg. Bal.

$

$

$

$

$

$

(a)

Sales revenueCost of goods soldBad debt expenseSales returns & allowancesAccounts receivable

(b)

(c)

Bad debt expenseSales revenueCost of goods soldSales returns & allowancesAccounts receivable

Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Ending balance in Accounts Receivable		$ .
Ending balance in Allowance for Doubtful Accounts		$ .

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

The net realizable value of the receivables at the end of the period

$