At the beginning of the current period, Novak Corp. had balances in Accounts Receivable of $256,000 and in Allowance for Doubtful Accounts of $11,520. During the period, it had net credit sales of $1,024,000 and collections of $976,640. It wrote off as uncollectible accounts receivable of $9,344. Uncollectible accounts are estimated to total $32,000 at the end of the period. (Omit recording cost of goods sold.) (a-c) Your answer is partially 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) (c) $ Record the write-off of uncollectible accounts during the period. Record bad debt expense for the period. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45).) Cash 976640 Assets Accts. Rec. 256000 1024000 -976640 -9344 $ Allow. For Doubtful Accts 11520 i i -9344 29824 = Liabilities. + $ C

At the bezinining of the current period, Novakc Corp. had balances in Accounts Recelvable of $256,000 and in Allowance far Doubthd soods sold. (ac) Enter the betinnine balances for Accounts Receivable and Allowance for Dovbthil Accounts in a tabolar summary. Use the summary to record transactions (a), bol, and (c) below. (1) Fecord rales and collections during the period. (b) Record the write-off of uncoliectible accounts durins the period (i) Decord bad debt eanenue for the period. Liabilities Stockholders' Equity