At the beginning of the current period, Newman Corporation had balances in Accounts Receivable of $201,100 and in Allowance for Doubtful Accounts of $9,900 (credit). During the period, Newman had credit sales of $805,800 and collections on account of $769,300.

Newman uses a perpetual inventory system and determined that the cost of goods sold during the period was $669,500. Newman wrote off as uncollectible accounts receivable of $7,500. However, a $2,800 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,400 at the end of the period.

The entry to record collections (not including recovery) of accounts receivable during the period is:

Question 35 options:

Accounts Receivable			201,100
	Cash			201,100

Accounts Receivable			669,500
	Cash			669,500

Cash			769,300
	Accounts Receivable			769,300

Cash			805,800
	Accounts Receivable			805,800

None of the above