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At the beginning of the current period, Nash's Trading Post, LLC had balances in Accounts Receivable of $164,000 and in Allowance for Doubtful Accounts
At the beginning of the current period, Nash's Trading Post, LLC had balances in Accounts Receivable of $164,000 and in Allowance for Doubtful Accounts of $7,380. During the period, it had net credit sales of $656,000 and collections of $625,660. It wrote off as uncollectible accounts receivable of $5,986. Uncollectible accounts are estimated to total $20,500 at the end of the period. (Omit recording cost of goods sold.) (a-c) Your Answer Correct Answer Your answer is correct. 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.
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